Weekly Market Commentary | 22.07 - 28.07
22 July 2024
Curious to know what’s happening on the markets this week? Take a quick tour of the latest news, economic updates, and trading setups that will keep you up-to-date and in the know!
Monday
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Markets are digesting the unexpected news of Joe Biden dropping out of the presidential race.
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China's central bank surprised the market by cutting the short-term seven-day reverse repurchase rate from 1.8% to 1.7%.
Tuesday
Wednesday
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A busy day filled with PMI releases from major economies:
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Additionally, the Bank of Canada will announce its interest rate decision, expected to decrease from 4.75% to 4.5%.
Thursday
Friday
Setups for This Week:
Dow Jones
Primary View:
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The last two days have been significantly bearish, indicating the start of a bearish correction.
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The price is nearing key yellow horizontal support and the blue uptrend line. A bounce from these levels would signal a buy opportunity.
Alternative View:
![](https://lh7-us.googleusercontent.com/docsz/AD_4nXe75O-2Dukv8c9wrnkiotiaZZDH3dIGfZ46DLTxwrddJ3uKodISmAGktpNYgoNOfhvmzMTaSLKGyUSW7ffmQG8o3QCrjJkt-EehrpU33EvIwJmDiRuREY1fwZmNyTP7tEXak1USA8WlZWQD7i1-dDFbultT?key=NjU5mVpRAADI7JvGKfDE2Q)
EUR/USD
Primary View:
Alternative View:
![](https://lh7-us.googleusercontent.com/docsz/AD_4nXdy2SGRORIwx00TqsT7mXE34LOFacfn5fhXbyiL5YVOjBQVI44S94vJp0BXq8KcGHvBlHNnSOj8m2ks5KAJC6tqAr1IA-Ums-2ygJWNAPoPAxXgP0VDFNMquJz_fnF7M5HKAfHI_IJNrVBdui_pqRxqnHJT?key=NjU5mVpRAADI7JvGKfDE2Q)
EUR/JPY
Primary View:
Alternative View:
![](https://lh7-us.googleusercontent.com/docsz/AD_4nXdi0VI5FL2SR4U_Du4Rbp9mqMdkR9X3e3maYNiHrBTJrfOEA8WklH7s4tMGtRPrU-pd1295tm3oKMCWv-yQkeHu992SecnH5Adrnj6NnoIv-UIttZM8ooOvfGdAWe9R_BaipyVFyCTW_IkkBfKIP7bzH87I?key=NjU5mVpRAADI7JvGKfDE2Q)