Stocks Slip, USD, Forex, Indexes, Oil, Crypto & MORE | Trade Zone with Joe Jeffriess
Thanks for checking out this week’s wrap-up.
In this week’s video, we have focused on a selection of major markets breaking down their week charts. We have run over current price action, including support and resistance levels, to look out for.
This past week witnessed a predominantly negative trend in major stock indexes, while the USD continued its ascent. Riskier currencies like the AUD, EUR, and GBP faced downward pressure. Meanwhile, major currencies remained relatively stable against the JPY, with some minor fluctuations between highs and lows.
Oil managed to briefly climb to $88 per barrel but was unable to sustain its gains, while gold retraced after two consecutive positive weeks.
Looking ahead to the upcoming week, all eyes are on the release of US CPI data, along with PPI and retail sales figures, which may provide insights into the Federal Reserve’s future actions. Additionally, keep a close watch on the European Central Bank (ECB) as they convene for their rate decision.
To wrap up the week, we anticipate the release of Canadian employment data and Chinese CPI data tomorrow.
This week’s recap video
Have a great weekend.
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