CPI Report, Retail Sales, and Employment Change: Key Events to Impact Global Markets.

Welcome to our comprehensive market report for the upcoming week. In this analysis, we will provide you with valuable insights and expert analysis of the key events that will shape the global financial landscape. Our aim is to equip you with the knowledge necessary to make informed decisions and navigate the dynamic world of finance successfully.

The coming week presents a plethora of significant economic indicators and corporate announcements that will have a profound impact on various markets. We will closely examine the outcomes of these events to provide you with a clear understanding of their implications. Our team of experts has conducted meticulous research to ensure that you receive accurate and timely information.

Let’s delve into the highlights:

On July 19, 2023, the highly anticipated Consumer Price Index (CPI) for the United Kingdom will be released. This crucial economic indicator measures the change in prices of goods and services in a basket of consumer items. The outcomes of this report have far-reaching implications for the British pound (GBP) and its associated currency pairs. By carefully analyzing the CPI data, we can discern potential bullish or bearish trends in the GBP.

Scheduled for July 18, 2023, the Retail Sales report for the United States will provide a comprehensive overview of consumer spending, a critical driver of economic activity. By examining the change in the aggregate value of sales at the retail level across the country, we can gain valuable insights into the health of the U.S. economy. The results of this report will exert a significant impact on the U.S. dollar (USD) and its related pairs, guiding trading decisions.

On July 20, 2023, the Employment Change report for Australia will be unveiled, revealing fluctuations in the number of people employed across the country. As employment and income are vital factors influencing consumer spending, this report holds paramount importance for the Australian dollar (AUD) and its subsequent pairs. A meticulous analysis of the employment data will allow us to assess the potential bullish or bearish outlook for the AUD.

Set to be published on July 19, 2023, New Zealand’s Consumer Price Index (CPI) for the second quarter will provide essential insights into price changes for goods and services in a consumer basket. As the central bank diligently monitors this index to maintain price stability, its impact on the New Zealand dollar (NZD) and its related pairs is significant. A comprehensive analysis of the CPI data will enable us to decipher potential bullish or bearish signals for the NZD.

On July 18, 2023, the Core Consumer Price Index (CPI) for Canada will be released, excluding the volatile food and energy components. This report offers a more accurate representation of price stability and greatly influences the decision-making process of the central bank. Consequently, it holds immense relevance for the Canadian dollar (CAD) and its subsequent pairs. By conducting a thorough analysis of the Core CPI, we can uncover potential bullish or bearish indications for the CAD.

In addition to these key events, our market report will delve into the latest updates on equities, commodities, cryptocurrencies, and indices, providing valuable insights for diversifying your portfolio and making sound investment decisions.

Stay tuned to our market report as we bring you real-time analysis, expert commentary, and actionable trade suggestions. Our mission is to empower you with the knowledge and tools necessary to navigate the intricate world of finance successfully.

Please note that the information provided in this report is for educational and informational purposes only. Trading involves risks, and it is crucial to conduct thorough research and seek professional advice before making any investment decisions.

5 Key Events to Watch Out

CPI (YoY (Jun) U.K.

WHEN: July 19, 2023

WHAT IT INFLUENCES: GBP and its subsequent pairs

What’s Happening:

The Consumer Price Index (CPI) measures the change in the prices of goods and services contained in a basket of consumer items. This figure is closely monitored by the central bank in its role of maintaining price stability.

A reading that exceeds expectations is generally bullish for the EUR, while a reading that falls short of expectations is typically bearish for the EUR.

Retail Sales (MoM) (Jun), U.S.

WHEN: July 18, 2023

WHAT IT INFLUENCES: USD and its subsequent pairs

What’s Happening:

Retail Sales measure the change in the aggregate value of sales at the retail level across the country. It is an important indicator of consumer spending, which accounts for the majority of overall economic activity.

A reading that exceeds expectations is generally bullish for the USD, while a reading that falls short of expectations is typically bearish for the USD.

Employment Change (Jun), AUD

WHEN: July 20, 2023

WHAT IT INFLUENCES: AUD and its subsequent pairs

What’s Happening:

Employment Change reports the change in the number of people employed across Australia. Jobs and the income they generate are important factors in consumer spending.

A reading that exceeds expectations is generally bullish for the AUD, while a reading that falls short of expectations is typically bearish for the AUD.

CPI (QoQ) (Q2), NZD

WHEN: July 19, 2023

WHAT IT INFLUENCES: NZD and its subsequent pairs

What’s Happening:

The Consumer Price Index (CPI) measures the change in the prices of goods and services contained in a basket of consumer items. This figure is closely monitored by the central bank in its role of maintaining price stability.

A reading that exceeds expectations is generally bullish for the NZD, while a reading that falls short of expectations is typically bearish for the NZD.

Core CPI (MoM) (Jun), CAD

WHEN: July 18, 2023

WHAT IT INFLUENCES: CAD and its subsequent pairs

What’s Happening:

The Core Consumer Price Index (CPI) measures the change in the prices of goods and services from the perspective of the consumer, excluding food and energy. This figure is closely monitored by the central bank in its role of maintaining price stability, as it excludes the volatile food and energy components.

A reading that exceeds expectations is generally bullish for the CAD, while a reading that falls short of expectations is typically bearish for the CAD.

Equities in the Coming Week

TESLA INC. (TSLA)

TSLA is set to announce its Quarterly Results on July 19, 2023. The estimated earnings per share (EPS) is $0.79, while the estimated revenue is $24.26 billion.

JOHNSON & JOHNSON (JNG)

JNG is set to announce its Quarterly Results on July 20, 2023. The estimated EPS is $2.62, while the estimated revenue is $24.669 billion.

NETFLIX, INC. (NFLX)

NFLX is set to announce its Quarterly Results on July 19, 2023. The estimated EPS is $2.85, while the estimated revenue is $8.278 billion.

MORGAN STANLEY (MS)

MS is set to announce its Quarterly Results on July 18, 2023. The estimated EPS is $1.20, while the estimated revenue is $13.018 billion.

BLACKSTONE, INC. (BX)

BX is set to announce its Quarterly Results on July 20, 2023. The estimated EPS is $0.93, while the estimated revenue is $2.467 billion.

Top Commodities in the Coming Week

GOLD

GOLD is currently trading in an upward channel, indicating that an upside movement may be expected in the coming days.

The Relative Strength Index (RSI) is currently at 57.2, which is in the bullish zone. The Moving Average Convergence Divergence (MACD) is also in the bullish zone, with the MACD line and the signal line crossing each other. The Bollinger Bands are currently at $1,864.27, which is in the neutral zone.

On the daily chart, gold is trading just above the 200-day moving average, which could provide support in case of a market decline. However, a break below the 200-day moving average could lead to a more significant sell-off.

Here are some key levels to watch in the near term:

• Support: $1,962.04
• Resistance: $1,954.72

Trade Suggestion: BUY at $1,964.23, Take Profit at $1,989.75, Stop Loss at $1,941.62

SILVER

SILVER is currently trading in an upward channel, indicating that an upside movement may be expected in the coming days.

The RSI is currently at 68.54, which is bullish. The MACD is currently in a bullish crossover, which is a bullish signal. The Bollinger Bands are currently wide, suggesting high market volatility.

The 50-day and 200-day moving averages are both sloping upward, which is a bullish signal. The 100-day moving average is currently sloping sideways, indicating a period of consolidation in the market.

Here are some key levels to watch in the near term:

• Support: $24.52 per ounce
• Resistance: $24.85 per ounce

Trade Suggestion: BUY at $24.85, Take Profit at $25.47, Stop Loss at $24.45

BRENT CRUDE OIL

BRENT CRUDE OIL is currently trading in an upward channel, indicating that an upside movement may be expected in the coming days.

The RSI is currently at 59.45, which is bullish. The MACD is currently in a bullish crossover, which is a bullish signal. The Bollinger Bands are currently close, suggesting lower market volatility.

The 50-day and 200-day moving averages are both sloping downward, which is a bearish signal. The 100-day moving average is currently sloping sideways, indicating a period of consolidation in the market.

Here are some key levels to watch in the near term:

• Support: $79.36
• Resistance: $80.71

Trade Suggestion: BUY at $80.75, Take Profit at $82.42, Stop Loss at $79.25

Top Crypto in the Coming Week

BTCUSD

BTCUSD is currently trading in an upward channel, indicating that an upside movement may be expected in the coming days.

The RSI is currently at 56.5, which is bullish. The MACD is currently in a bearish crossover, which is a bearish signal. The Bollinger Bands are currently wide, suggesting high market volatility.

The 50-day and 200-day moving averages are both sloping upward, which is a bullish signal. The 100-day moving average is currently sloping sideways, indicating a period of consolidation in the market.

Here are some key levels to watch in the near term:

• Support: 30,254
• Resistance: 30,681

Trade Suggestion: BUY at 30,660, Take Profit at 31,280, Stop Loss at 30,211.32

LITECOIN

LITECOIN is currently trading in an upward channel, indicating that an upside movement may be expected in the coming days.

The RSI is currently at 51.43, which is bullish. The MACD is currently in a bearish crossover, which is a bearish signal. The Bollinger Bands are currently wide, suggesting high market volatility.

The 50-day and 200-day moving averages are both sloping upward, which is a bullish signal. The 100-day moving average is currently sloping sideways, indicating a period of consolidation in the market.

Here are some key levels to watch in the near term:

• Support: $95.90
• Resistance: $93.71

Trade Suggestion: BUY at $95.92, Take Profit at $98.84, Stop Loss at $93.73

Top Currency in the Coming Week

EURUSD

EURUSD is currently trading in an upward channel, indicating that an upside movement may be expected in the coming days.

The RSI is currently at 74.28, which is bullish. The MACD is currently in a bullish crossover, which is a bullish signal. The Bollinger Bands are currently narrow, suggesting lower market volatility.

The 50-day and 200-day moving averages are both sloping upward, which is a bullish signal. The 100-day moving average is currently sloping sideways, indicating a period of consolidation in the market.

Here are some key levels to watch in the near term:

• Support: 1.1203
• Resistance: 1.1224

Trade Suggestion: BUY at 1.1226, Take Profit at 1.1263, Stop Loss at 1.1193

GBPUSD

GBPUSD is currently trading in an upward channel, indicating that an upside movement may be expected in the coming days.

The RSI is currently at 73.82, which is bullish. The MACD is currently in a bullish crossover, which is a bullish signal. The Bollinger Bands are currently wide, suggesting high market volatility.

The 50-day and 200-day moving averages are both sloping upward, which is a bullish signal. The 100-day moving average is currently sloping upward, indicating an uptrend in the market.

Here are some key levels to watch in the near term:

• Support: 1.3087
• Resistance: 1.3112

Trade Suggestion: BUY at 1.3112, Take Profit at 1.3159, Stop Loss at 1.3072

AUDUSD

AUDUSD is currently trading in an upward channel, indicating that an upside movement may be expected in the coming days.

The RSI is currently at 60.9, which is bullish. The MACD is currently in a bullish crossover, which is a bullish signal. The Bollinger Bands are currently wide, suggesting high market volatility.

The 50-day and 200-day moving averages are both sloping downward, which is a bearish signal. The 100-day moving average is currently sloping sideways, indicating a period of consolidation in the market.

Here are some key levels to watch in the near term:

• Support: 0.6830
• Resistance: 0.6881

Trade Suggestion: BUY at 0.6881, Take Profit at 0.6956, Stop Loss at 0.6817

Top Index in the Coming Week

DOW JONES

DOW JONES is currently trading in an upward channel, indicating that an upside movement may be expected in the coming days.

The RSI is currently at 60.56, which is bullish. The MACD is currently in a neutral crossover, which is a neutral signal. The Bollinger Bands are currently closed, suggesting lower market volatility.

The 50-day and 200-day moving averages are both sloping downward, which is a bearish signal. The 100-day moving average is currently sloping sideways, indicating a period of consolidation in the market.

Here are some key levels to watch in the near term:

• Support: 34,551.78
• Resistance: 34,650.68

Trade Suggestion: BUY at 34,650.68, Take Profit at 34,800.00, Stop Loss at 34,534.27

FTSE 100

FTSE 100 is currently trading in a downward channel, indicating that a downside movement may be expected in the coming days.

The RSI is currently at 44.29, which is bearish. The MACD is currently in a bearish crossover, which is a bearish signal. The Bollinger Bands are currently wide, suggesting high market volatility.

The 50-day and 200-day moving averages are both sloping downward, which is a bearish signal. The 100-day moving average is currently sloping sideways, indicating a period of consolidation in the market.

Here are some key levels to watch in the near term:

• Support: 7,415.2
• Resistance: 7,477.7

Trade Suggestion: SELL at 7,415.00, Take Profit at 7,325.2, Stop Loss at 7,508.8

Market Recap of the Past Week

Gold Prices Near 1-Month High as Markets Rethink U.S. Rate Hikes

WHAT IT HAD INFLUENCED: GOLD

What Happened:

Gold prices rose slightly on Friday, reaching near one-month highs as softer-than-expected U.S. inflation data prompted investors to reassess the extent of U.S. interest rate hikes.

The yellow metal is on track for its best weekly gain since late April, bouncing back strongly from the $1,900 per ounce support level after both producer and consumer inflation data came in weaker than expected for June.

These readings caused investors to lower their expectations for more rate hikes by the Federal Reserve this year, which in turn improved the outlook for gold and other non-yielding assets.

A decline in the dollar to 15-month lows also benefited gold and other commodities priced in the greenback.

Spot gold remained relatively unchanged at $1,961.24 per ounce, while gold futures rose 0.1% to $1,965.25 per ounce by 00:53 ET (04:53 GMT). Both instruments were set to add nearly 2% for the week.

Gold is currently trading in a downward channel, indicating that a downside movement may be expected in the coming days.

Oil Prices Fall on Profit-Taking, Still Record Weekly Gain

WHAT IT HAD INFLUENCED: CRUDE OIL

What Happened:

Oil prices fell over a dollar per barrel on Friday as the dollar strengthened and oil traders booked profits from a strong rally. However, crude benchmarks still recorded their third straight weekly gain.

Brent crude futures settled at $79.87 per barrel, down $1.49 or 1.8%, while U.S. West Texas Intermediate crude futures fell $1.47 or 1.9% to settle at $75.42 per barrel.

“It appears to be some profit-taking, with demand concerns coming back to the forefront as the dollar rebounds,” said John Kilduff, partner at Again Capital.

The U.S. dollar index edged higher after hitting a 15-month low during the session, as investors consolidated ahead of the weekend. A stronger greenback reduces oil demand, making crude more expensive for investors holding other currencies.

Next week, the rally could resume as easing inflation, plans to refill the U.S. strategic reserve, supply cuts, and disruptions could support the market, according to Rob Haworth, senior investment strategist at U.S. Bank Wealth Management.

While oil prices may be slightly overbought in the very near term, with the highest levels since early May, the bias appears to be for a gradual increase, Haworth said.

Oil prices gained nearly 2% on a weekly basis after supply disruptions in Libya and Nigeria raised concerns about tightening markets in the coming months.

WTI CRUDE OIL is currently trading in an upward channel, indicating that an upside movement may be expected in the coming days.

Bitcoin Hovers Near 13-Month High as Investors Cheer Ripple Ruling

WHAT IT HAD INFLUENCED: BITCOIN

What Happened:

Bitcoin was hovering near its highest level so far this year on Friday after cryptocurrency investors took encouragement from a legal victory in which the cryptocurrency XRP was ruled not to be a security.

This case marked the first win for a cryptocurrency company in a lawsuit brought by the U.S. Securities and Exchange Commission (SEC). Although the decision was specific to the individual case, it sparked optimism among crypto investors that more cryptocurrencies may also not be classified as securities.

However, some of the enthusiasm was tempered by a report from the Wall Street Journal stating that Binance, the world’s largest cryptocurrency exchange, has laid off over 1,000 people in recent weeks. The layoffs are ongoing and could result in the exchange losing over a third of its staff, according to a source familiar with the matter.

Bitcoin reached its highest price since June 2022 earlier, hitting $31,818 before edging down to trade around $30,091 at 20:09 GMT on Friday.

Bitcoin is currently trading in an upward channel, indicating that an upside movement may be expected in the coming days.

Weekly Snapshot

Industrial Production (MoM) (May), EUR

• WHEN: 13 July 2023
• WHAT IT HAD INFLUENCED: GBP and its subsequent pairs

What Happened:

Industrial Production gauges the change in the total inflation-adjusted value of output manufacturers, quarries, and utilities produced.

CPI (MoM) (Jun), U.S.

• WHEN: 12 July 2023
• WHAT IT HAD INFLUENCED: USD and its subsequent pairs

What Happened:

The Consumer Price Index (CPI) measures the change in the prices of goods and services contained in a basket of consumer items. The central bank pays very close attention to this figure in its role of maintaining price stability.

USDZAR is currently in an upward channel. Further upside can be seen in the coming week.

Building Approvals (MoM), AUD

• WHEN: 10 July 2023
• WHAT IT HAD INFLUENCED: AUD and its subsequent pairs

What Happened:

Building Approvals (also known as Building Permits) report the change in the number of new building approvals issued by the government. Building approvals are an important indicator of new housing starts.

AUDUSD is trading in a downward channel. Further downside can be seen in the coming week.

In conclusion, these key events and market updates provide valuable insights into the performance and trends of various currencies, commodities, cryptocurrencies, and indices. Traders and investors can use this information to make informed decisions and develop trading strategies. It is important to stay updated on these events and monitor the market for potential opportunities.

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