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Today’s Economic Calendar
We follow today’s events in GMT:
At exactly twelve-thirty in the afternoon, the US jobs report for the month of May will be released, which includes:
Average hourly wages on an annual basis.
– Change in jobs in the private sector outside the agricultural sector.
-The unemployment rate.
Top News in Global Markets:
Yesterday’s highlights:
– The Swiss Trade Balance came in lower than expected, which means that exports fell short of imports for the month of May.
– German Retail Sales came in lower than expected on a monthly basis for the month of April, but higher than previously.
– The Swiss PMI for the manufacturing sector was lower than expected for the month of May.
– From Standard & Poor’s Global, some economic indicators were issued for the month of May, which are:
The final German Manufacturing PMI is higher than expected.
The final manufacturing PMI for the Eurozone is higher than expected.
The final reading for the England manufacturing PMI is higher than expected.
Canadian Manufacturing PMI is lower than the previous reading.
The final US Manufacturing PMI is lower than expected.
– From the European statistical center Eurostat, the preliminary estimate of the European consumer price index came lower than previously and expected for May on an annual basis, and the unemployment rate was similar to expectations for the month of April.
– From the US Department of Labor, the results of the weekly report of jobless claims were lower than expected, but higher than previously.
– From the Institute for Supply Management, the US Manufacturing PMI was released, and it was lower than expected for the month of May.
– From the Energy Information Administration, natural gas inventories increased for the previous week, and crude oil inventories also increased for the previous week.
– The indices of the American trading session rebounded, the Dow Jones Industrial Average rose by 153 points,
The Standard & Poor’s 500 advanced by 41 points, and the Nasdaq closed up by 165 points.
In the morning:
– Indices rebounded in the Asian trading session, the Japanese Nikkei index rose by 320 points,
Hong Kong’s Hang Seng Index rose by more than 679 points.
In the digital currency market, Bitcoin rose by 286 points, to record a price of 27136 against the US dollar.
– The metals market advanced, and gold is approaching the level of $2,000 an ounce again.
– The US dollar index declines, recording 103.46 against a basket of major currencies.
Today is expected:
US jobs report for May, which includes:
Average hourly earnings on a monthly basis, non-farm payroll change, unemployment rate
Technical Analysis
Dollar Index – 1 Hour Timeframe
The US dollar index revised down yesterday, as we mentioned, supported by the contraction of economic activity in the manufacturing sector for the seventh month in a row, breaking through the slide the support levels around 103.60 points.
Technically, we expect the index to try to retest the resistance levels around 103.60 points during today’s trading, which we expect the index to decline around again, targeting 102.80 points.
Gold – 1 Hours Timeframe
The yellow metal rose yesterday, Thursday, Supported by the US dollar falling , rebounding from support levels around $1945 an ounce, to trade today at the highest levels of $1975 an ounce.
Technically, we expect more bullishness on gold during today’s trading, targeting the next resistance levels around $2000 an ounce, which we expect the yellow metal to retreat around again.
US Dow Jones – 1 Hour Timeframe
The Dow Jones industrial index rose, rebounding from the support levels around 32745 that we mentioned yesterday, today approaching the resistance levels around 33200 points.
Technically, we expect more Bullishness on the index during today’s trading, targeting the resistance levels around 33,600 points, especially if the highest resistance levels at 33,200 points remain.
US Crude Oil – 1 Hour Timeframe
The black gold rebounded yesterday after closing above the support levels around $67.60 a barrel, breaching the resistance levels around $69.75, and rushing around it in the first hours of today’s trading after an attempt to retest it.
Technically, we expect more bullishness on oil during today’s trading, targeting the resistance levels around $71.65 per barrel.
Bitcoin – 1 Hour Timeframe
The digital currency “Bitcoin” rushed to the upside after building on the support levels around $26,600, and trading today around the resistance levels at $27,165.
Technically, we expect more Bullishness on Bitcoin during today’s trading, targeting the resistance levels around $27,450, which we expect the correction to end around, and the digital currency to decline again, targeting 27165 again.
EUR/USD – 1 Hours Timeframe
We have pushed the euro pair against the US dollar since yesterday, supported by the fall of the US dollar and the increasing selling pressure on it, breaching the resistance levels around 1.07450.
Technically, we expect more bullishness on the pair during today’s trading on short-term intervals, targeting the resistance levels around 1.0795, around which we expect the pair to bounce back down again.
GBP/USD – 1 Hours Timeframe
In sync with the major pairs, the (GBP/USD ) pair also advanced, breaching the resistance levels around 1.2450, and trading today around the next resistance levels 1.2540, supported by yesterday’s decline in the US dollar.
Technically, we expect more bullishness on the pair during today’s trading on short-term intervals. Targeting the resistance levels around 1.2600
GBP/JPY – 1 Hour Timeframe
The (GBP/JPY ) pair continued to rise over the short-term intervals, trading since yesterday in a narrow range around the resistance levels of 174.150 yen.
Technically, we expect the pair to decline around those levels, targeting the support level around 173.80 yen, and in case of a break, we target the next support level around 173.075, especially in the case of a Close below the resistance levels around 174.150 yen.
