![Weekly Analysis 24/07/2024 Economic Calendar](https://www.fortrade.com/analysis/images/600/auto/weeklyAnalysis/2024-07-24/ek496.png)
The Eurodollar declined as the dollar rose against most of its peers in a week that saw the European Central Bank maintain interest rates at 4.25%.
The British pound fell despite UK inflation coming in slightly higher than expected, but UK retail sales were far lower than estimates, increasing the chance of an early interest rate cut.
The USD/JPY fell sharply after it was revealed that the Bank of Japan previously spent 22 billion dollars in the currency markets to support the value of the Yen.
Gold prices jumped to hit a record high on Wednesday, but still managed to fall slightly by the end of the trading week after being pressured by a stronger greenback and the prospect of an Israel-Hamas ceasefire deal.
Stock index prices general fell and saw high volatility in a week of speculation on whether President Biden might drop out of the presidential race. On Friday a computer bug caused chaos as devices malfunctioned, causing shops and banks to close and delays at airports. Of 70 companies that have reported earnings so far, 82.9% have bettered analyst estimates.
Crude oil prices fell after a sell-off on Friday saw prices drop below $79 after U.S. Secretary of State Antony Blinken said a ceasefire between Israel and the Palestinian militant group Hamas could be close.