This week we are waiting for some important data that will have an impact on the movements of the markets next period and here is our weekly technical analysis of currencies👇
weekly technical analysis
With the beginning of the trading week, we will have a quiet start this week, as we are waiting for the only news from the US economy on Monday at 5:00 pm Egypt time, which is new home sales, and forecasts indicate that they will rise from 664 thousand to 675 thousand.
On Tuesday, our date will be at dawn today from Japan with the inflation data represented by the Consumer Price Index, as for the US economy, our date will be at 3:30 pm with orders for basic and non-essential durable goods, and then at Five O'clock our date will be with the Consumer Confidence Index CB.
On Wednesday, it will be the beginning of strong news, as we start it with the Australian inflation data represented by the Consumer Price Index and expectations that it will rise by more than expectations to 3.5%, while last month it was 3.4%, and then at 3:00 am we will be due with the interest decision issued by the Central Bank of New Zealand and expectations indicate its stability at 5.5%, and immediately follows the minutes of the meeting of the monetary policy committee of the Bank of New Zealand.
As for at 3: 30 pm, we will have a date from the US economy with quarterly GDP and forecasts indicate a decline from 4.9% to 3.3%.
On Thursday, our appointment will be this morning with German inflation data and expectations of an increase from 0.2% to 0.5%, followed at 3:30 pm Egypt time by Canadian growth data represented by GDP, and finally, at the same time, the most important data will be released today from the US economy represented by the PCE core Personal Consumption Expenditures price index and expectations of an increase from 0.2% to 0.4%, which is the Fed's preferred indicator for measuring inflation.
Finally, on Friday, our date will be from the eurozone, specifically at 12: 00 pm with inflation data represented by the Consumer Price Index and expectations of declines from 2.8% to 2.5%, then the consumer price index excluding food and energy and expectations of declines from 3.3% to 3%.
From the US economy, our appointment will be at 5:00 pm with the ISM industrial Purchasing Managers Index, and then at the same time the inflation forecast and consumer confidence from the University of Michigan will be released.
