This week''s focal point on the U.S. economic calendar revolves around the eagerly awaited release of January''s PCE data on Friday A stronger-than-expected report could propel the U.S. dollar upwards, whereas subdued results may have a bearish impact on the American currency This article carefully examines the short-term technical outlook for three key FX pairs: EUR/USD, USD/JPY and GBP/USD Most Read: Japanese Yen Outlook - Turnaround Ahead; Setups on USD/JPY, GBP/JPY, EUR/JPY

General sentiment soared in a week dominated by Nvidia’s impressive performance and encouraging guidance for Q1 2024. The chipmaker helped the S&P 500 reach another all-time high with the Japanese benchmark index achieving the same feat after 34 years.

German GDP fell by 0.3% in Q4 2023 compared to the third-quarter, and by 0.4% on the same quarter a year ago, data released by the Federal Statistics Office (Destatis) today confirmed.

Fed officials communicated that they are in no rush to start the cutting cycle amid a strong US economy, emboldened consumer and potential Red Sea escalation Gold prices have edged lower towards the end of the week as Fed officials spur on USD

Crude Oil Prices are sliding once again. Traders remain worried about demand if inflation proves resilient and interest rates stay up. Still the broad price uptrend is not yet under serious threat.

German PMI data was always going to be under the microscope this week amid weak fundamentals and comments from the Bundesbank that Germany is likely already in a recession and the data supported that view.

UK business activity continues to expand. GBP/USD buoyed by Sterling strength and US dollar weakness. ​Most Read: US Dollar Trims Losses After Fed Minutes Caution Against Early Cuts

Gold looks set for a sixth straight session of gains Conflict in Ukraine and Gaza underpins the market The prospect of lower interest rates, albeit not imminently, is helping too Downloadour free Q1 Gold Technical and Fundamental Forecast

WEEKLY MARKET RECAP – APRIL 19, 2024 The S&P 500’s descent from its late-March record high gained momentum, with the index closing the week down by 3.0%, marking its third consecutive negative result. The NASDAQ experienced a steeper decline of about 5.5%, while the Dow managed to eke out a small gain. Concerns surrounding technology

Nvidia earnings surpass estimates and issues positive outlook for Q1 2024 Nvidia set to open at new all-time high after earnings beat S&P 500 likely to ride the wave higher on Nvidia optimism potentially testing the all-time high Recommended by Richard Snow Get Your Free Equities Forecast Get My Guide