The EURUSD, a week under the influence of financial volatility
EURUSD Overview
Another week for the euro between price fluctuations weekly market overview, where the euro opened the week at 1.0722, and reached its highest price at 1.0778, and the lowest price reached it at 1.0634, and the week closed at 1.0754
Most important economic news that affected the euro in the past week:
- Preliminary reading of the German CPI index: this news was released on Wednesday, May 31, 2023, and It was less than expected and had a negative impact on the euro, as the euro fell from 1.0683 to 1.0657 .
- The general budget of the French government: released on Thursday, June 1, 2023, the news was released in the morning higher than the previous one and had a positive impact on the euro, as the euro rose from 1.0664 to 1.0711 .
Important economic news that will affect the euro this week:
- PPI M / M : this news will be released on Monday, June 5, 2023, in case it is higher than the previous one, its effect will be positive and in case it is lower, it will be negative .
- Final employment change q / q: this news will be released on Thursday, June 8, 2023, in case it is higher than the previous one, it will have a positive impact on the euro, and in case it is lower, it will have a negative impact on the euro.
EURUSD Weekly Technical analysis
The euro is trading against the US dollar in a general downward trend. As the chart below shows , we expect the euro to continue to decline, as we will sell from the price of 1.0755 dollars, while strengthening the selling point at the level of 1.0709 and the target will be the area of 1.0647 dollars. It is also advisable to choose the USD 1.0800 zone as the stop loss point for risk control.
On the other hand, if the stop-loss zone of 1.0800 dollars is broken, the euro rate may move towards the level of 1.0850 dollars.
A busy week for the GBPUSD
GBPUSD Overview
The Pound dollar spent this week in an upward trend after a long downward period , as the Bund dollar opened the week at 1.2347 , reached its highest price at 1.2543 , reached its lowest price at 1.2325, and the Bund dollar closed this week at 1.2518 .
The economic news that affected the pound dollar last week:
BRC index of store prices y / y: the index was released on Tuesday, May 30, 2023 in the morning , and it had a positive impact on the Bund, as the Bund price rose from the area of 1.2342 to the area of 1.1.2378 .
Economic news that will affect the pound dollar this week:
- British Retail Consortium (BRC) retail sales y / y : this news will be released on Tuesday, June 6, 2023 am , in case it is higher than the previous one it will have a positive impact on the currency and in case it is lower it will have a negative impact on the currency.
- Final services of the Purchasing Managers Index (PMI) : this news will be released on Monday , June 5, 2023 in the morning, in case it is higher than the previous one it will have a positive impact on the currency and in case it is lower it will have a negative impact on the currency.
GBPUSD Weekly Technical analysis
The pound against the US dollar is in a general upward trend . As the chart below shows , however, we expect the downward trend of the Bund to be reversed, where we will sell from the price of 1.2517 dollars, strengthening the selling point at the level of 1.2423 and the target will be the area of 1.2306 dollars. It is also advisable to choose the USD 1.2600 zone as the stop-loss point for risk control.
On the other hand, if the stop-loss zone of 1.2600 USD is broken, the price of the pound may move towards the level of 1.2700 USD.
The amazing volatility of gold: a colossal flight of financial volatility in one week
Overview
Gold went through a huge journey of price fluctuations between ups and downs , where gold opened last week at the 1942 zone , and reached its highest price at the 1983 zone , and its lowest price was at the 1931 zone , and gold closed this week at 1966 .
The economic news that affected gold last week :
- US Consumer Confidence Index CB: this news was released on Tuesday, May 30, 2023 at PM , and it had a positive impact on gold as the index was released higher than expected and this led to a rise in the price of gold from the 1950 region to the 1963 region .
- ISM American manufacturing price index: this news was released on Thursday, June 1 , 2023 at PM, this news was released less than expected and less than before, however, this news did not affect gold much.
Economic news that will affect gold this week :
- Australian interest rate: this news will be released on Tuesday , June 6, 2023 in the morning, in the event of an interest rate hike, it will have a positive impact on the Australian dollar, and therefore on gold .
- The US service purchasing managers index ISM (PMI): this news will be released on Monday , June 5, 2023 at PM, in case this indicator is higher than expected, it will have a positive impact on the US dollar and reflected on gold .
Gold Weekly Technical analysis
This week the Safe Haven is going through price fluctuations between ups and downs . As the chart below shows , based on this , we expect gold to take a downward trend, where we will sell from the price of 1966 dollars per ounce, while strengthening the selling point at the level of 1950 dollars per ounce and the target will be the area of 1933 dollars per ounce. It is also advisable to choose the area of 1980 dollars per ounce as the stop loss point for risk control.
On the flip side, if the stop-loss zone of 1980 dollars per ounce is broken, the gold price may move towards the level of 2000 dollars per ounce.
Exciting ups and downs: USoil week full of market volatility
USOIL Overview
Oil spent the past week in upward and downward price fluctuations , where oil opened last week at 73.00 , and reached its highest price at 73.50 , and the lowest price reached it at 67.04 , and oil closed the trading week at 71.55
The economic news that affected USOIL last week :
- US crude oil inventories index: this index was released on Wednesday, May 31, 2023, as it was released higher than expected and this negatively affects the oil price, the oil price has fallen from the area of 71.00 to the area of 69.94 .
- GDP indicator for Canada: this indicator was released on Wednesday, May 31, 2023 at night , as it was released higher than expected and this affects the Canadian dollar positively and therefore also on oil , but it did not have a strong impact on it .
Economic news that will affect USOIL this week :
- US crude oil inventories index: this index is released weekly on Wednesday, June 7, 2023 and in case it was higher than expected, it will have a positive impact on oil prices and vice versa .
- Unemployment rate index in Canada : this news will be released on Friday, June 9, 2023 in the evening , if this news is issued less than expected, it will have a positive impact on the Canadian dollar, including on oil .
USOIL Weekly Technical analysis
Over the past week, oil has spent a busy week of volatility . As the chart below shows , based on this , we expect oil to fall, where we will sell from the price of 71.62 dollars per barrel, while strengthening the selling point at the level of 70.54 dollars per barrel and the target will be the area of 69.10 dollars per barrel. It is also advisable to choose the area of 72.72 dollars per barrel as the stop loss point for risk control.
On the other hand, if the stop-loss zone of USD 72.72 per barrel is broken, the oil price may move towards the level of USD 74.27 per barrel.
Another week of rising Dow Jones
DOWJONES US30 Overview
The Dow Jones continues to climb for the second week , as it opened the week at the price of 33119 , and it reached its highest price at the level of 33666 , and its lowest price reached it at the level of 32672 , and the index closed this week at the price of 33601 .
The economic news that affected the DowJones index last week:
- The American industrial Purchasing Managers Index (PMI): this news was released on Thursday , June 1 , 2023 at PM, as the news was released higher than expected and this has a positive impact on the US dollar and the US economy, as the Dow Jones rose from the area of 32717 to the area of 33121 .
- ISM US manufacturing price index: this news was released on Thursday, June 1 , 2023 at PM, as it was released less than expected and this has a positive impact on the currency .
Economic news that will affect the Dow Jones index this week:
- ISM service Purchasing Managers Index (PMI): this news will be released on Monday , June 5, 2023 at PM, in case this indicator is higher than expected will have a positive impact on the US dollar and the US economy .
- Preliminary unemployment applications index in the United States : this news will be released on Thursday , June 8, 2023 at PM, in case this indicator is released less than expected will have a positive impact on the US dollar and the US economy .
Dow Jones Weekly Technical analysis
The Dow Jones index spent the past week in an upward trend , and then this trend continued . As the chart below shows , based on this , we expect the Dow Jones to rise, where we will buy from the price of 33605 dollars, while strengthening the buy point at the level of 33799 dollars and the target will be the area of 34093 dollars . It is also advisable to choose the USD 33,239 zone as the stop loss point for risk control.
On the other hand, if the stop-loss zone of 33239 dollars is broken, the Dow Jones price may move towards the level of 32943 dollars .
