Let’s have a look ahead on what to expect this week:
Monday: We note Eurozone’s retail sales updates and the speculative net positions releases from the CFTC.
Tuesday: We highlight the Reserve Bank of Australia’s interest rate decision early in the Asian session, the EIA’s short term energy outlook report and Canada’s Ivey PMI for June.
Tuesday: We highlight the Reserve Bank of Australia’Wednesday: We note the Reserve Bank of New Zealand’s interest rate decision and China’s CPI print for June during the Asian session alongside the FOMC’s meeting minutes of the latest Fed decision. interest rate decision early in the Asian session, the EIA’s short term energy outlook report and Canada’s Ivey PMI for June.
Thursday: On a rather slow day, we note the weekly initial jobless claims from the US and speeches from Fed officials.
Friday: Finally, Friday we close the week with the UK’s GDP print for May, IEA monthly report,
French and German inflation updates and Canada’s latest labour market update. (Saturday we
also highlight China’s trade data for the month of June).
Technical Analysis
XAUUSD Chart – Gold slips as Trump’s 10% tariff on BRICS strengthens the greenback
Resistance: 3420 (R1), 3500 (R2),3600 (R3)
Support: 3300 (S1), 3210 (S2), 3140 (S3)
