Weekly market analysis from 13th January 2025
BY TIO Staff
|Januari 13, 2025This week’s high impact economic events provide key updates for the USD, GBP, and AUD.
Tuesday brings a steady start for the USD, as both the Core PPI m/m and PPI m/m figures are forecasted to remain unchanged at 0.20% and 0.40%, respectively.
One Wednesday, focus shifts to inflation data, particularly for the GBP and USD. The UK’s CPI y/y is expected to hold steady at 2.60%. Meanwhile, in the US, the Core CPI m/m is forecast to slow to 0.20% from the previous 0.30%, while the CPI y/y is projected to edge higher to 2.90% from 2.70%, signaling potential inflationary pressures.
Thursday delivers employment data from Australia, with Employment Change forecast to decelerate to 14.5K from 35.6K, and the Unemployment Rate anticipated to tick up to 4.00% from 3.90%. In the UK, GDP m/m is expected to rebound to 0.20% after a previous contraction of -0.10%. Later in the day, the USD takes center stage with Core Retail Sales m/m projected to rise to 0.50% from 0.20%, indicating improving consumer spending. Retail Sales m/m are expected to dip slightly to 0.60% from 0.70%, while Unemployment Claims are forecast to increase to 210K from 201K.
The week concludes with the UK’s Retail Sales on Friday, the m/m is forecasted to climb to 0.40%, up from the prior 0.20%, suggesting a recovery in consumer activity.
This week’s data will be closely watched by traders, as shifts in inflation, employment, and consumer spending indicators may provide vital clues for market direction and central bank policies.
Here are 3 markets to watch this week
All technical analysis is provided by Trading Central
AUD/USD
If AUD/USD remains below the pivot point at 0.6430, the pair could potentially decline toward the 0.5980 or 0.5800 support levels. Alternatively, a break above the pivot at 0.6430 may open the door for further upside with targets at 0.6550 and 0.6685. The RSI is indicating that the pair could be oversold, but there could also still be bearish momentum.
GBP/USD
If GBP/USD remains below the pivot point at 1.2820, the pair could potentially decline toward the 1.2035 or 1.1800 support levels. Alternatively, a break above the pivot at 1.2820 may trigger further upside momentum with targets at 1.3043 and 1.3260. The RSI has dropped below the 30 level, indicating that the pair could be oversold, but there could also still be bearish momentum.
USD/CAD
If USD/CAD remains above the pivot point at 1.4000, the pair could potentially rise toward the 1.4660 and 1.4810 resistance levels. Alternatively, a break below the pivot at 1.4000 may lead to further downside with targets at 1.3820 and 1.3600. The RSI has dropped just below the 70 level, indicating that the pair could be overbought, but there could also still be bullish momentum.
This week's high impact market events
The following economic events and data releases have the potential to cause considerable price movements, thereby offering you both opportunities and risks. Stay informed and leverage our economic calendar to access real-time data and analysis as these key events unfold.
Time (GMT +3)
Tuesday 14th January
| Time | Currency | Event |
| 3:30 PM | USD | Core PPI m/m |
| USD | PPI m/m |
Wednesday 15th January
| Time | Currency | Event |
| 9:00 AM | GBP | CPI y/y |
| 3:30 PM | USD | Core CPI m/m |
| USD | CPI m/m | |
| USD | CPI y/y |
Thursday 16th January
| Time | Currency | Event |
| 2:30 AM | AUD | Employment Change |
| AUD | Unemployment Rate | |
| 9:00 AM | GBP | GDP m/m |
| 3:30 PM | USD | Core Retail Sales m/m |
| USD | Retail Sales m/m | |
| USD | Unemployment Claims |
Friday 17th January
| Time | Currency | Event |
| 9:00 AM | GBP | Retail Sales m/m |
How will you trade the markets this week?
Join us on social media
Behind every blog post lies the combined experience of the people working at TIOmarkets. We are a team of dedicated industry professionals and financial markets enthusiasts committed to providing you with trading education and financial markets commentary. Our goal is to help empower you with the knowledge you need to trade in the markets effectively.
Related Posts
undefined