Weekly Economic Preview: Eurozone Retail Sales and US Non-Farm Payrolls Take Center Stage as Markets Watch Fed Signals

Important Economic Events and Data

Eurozone Retail Sales, m/m (June) —— Thursday

Eurozone Retail Sales, m/m (May) rose from -0.3% to 0.2% Vs. 0.3% (forecast), according to the data from the Eurostat.

In terms of product category, the sales of food, beverages and tobacco increased by 0.6% month on month in May, the sales of non-food products jumped by 0.1% month on month in May, and the sales of fuel decreased by 0.5% month on month in May.

Generally speaking, Eurozone retail sales, m/m (May) increased by 0.2%, showing that the consumption saw weak recovery.

US Non-Farm Payrolls (July) —— Friday

US Non-Farm Payrolls (June) fell from 129,000 to 57,000 Vs. 110,000 (forecast), and US Unemployment Rate (June) hit 4.2%, the lowest level since June 2025, according to the data from the US Department of Labor.

In June, the sector of professional and business services, the social assistance industry, and the health care industry saw continued increase in employment change, and the leisure and hospitality industry saw the decline in employment change, according to the data.

The significant decline in employment change means that it is less necessary for the Fed to further tighten monetary policies in the short term, the market analysis showed.

View economic data and events in details

Major Financial Instruments

XAGUSD——the Chart of the Week

Last week, as the Fed was expected to increase the interest rate, XAGUSD was capped, and moved below the US$60 mark. On the chart of the week, XAGUSD was prone to fluctuation and fell. The bearish market trend prevailed. Investors should focus on whether XAGUSD will break through the resistance at 60.9. It will decline with potential support at 50.0-52.0 if it rebounds but is capped at 60.9.

image source: XTrend Speed

XNGUSD——the Chart of the Week

Last week, as natural gas supply was strong and the inventory was sufficient, XNGUSD was capped, and hit the lowest level since January 2026. On the chart of the week, XNGUSD was prone to fluctuation and fell. The bearish market trend prevailed. Investors should focus on whether XNGUSD will break through the resistance at 2.972. It will dip with potential support at 2.400 if it rebounds but is capped at 2.972.

image source: XTrend Speed

TECH100——the Chart of the Week

Last week, as US tech sock was taking a beating, TECH100 was capped and hit a three-month low. On the chart of the week, TECH100 fell from a high level. It is likely to retreat in the short term. Investors should focus on whether TECH100 will break through the resistance at 28200. It will decline with potential support at 26000 if it rebounds but is capped at 28200.

image source: XTrend Speed

58.37% of retail CFD accounts lose money

Due to passage of time and market volatility, some of the above patterns observed may no longer be valid.