Weekly data: Oil and Gold: Price review for the week ahead.

This preview of weekly data examines USOIL and XAUUSD, where economic data expected later this week are the primary market drivers for the near-term outlook. 

Highlights of the week: Canadian inflation, British inflation,services and manufacturing PMI

Tuesday

• Canadian Inflation rate at 13:30 GMT. The anticipation here is for an increase of around 0.4% reaching the figure of 2.3%. In the event of these anticipations becoming reality then the loonie might view some short term gains against its pairs. 

Wednesday

• British Inflation rate at 06:00 AM GMT where the figure for the month of September is expected to increase from 3.8% to 4%. If it’s confirmed the figure will reach a yahead high and the pound might witness some short term gains against other currencies. 

Thursday

• Japanese inflation rate at 23:30 GMT. The expectations for the month of September is that the rate could go up to 2.9% from the previous 2.7%. This might be somewhat bullish news to the market participants trading the yen. 

Friday

• Flash British manufacturing PMI at 08:30 AM GMT. The expectations for the figure are at 46.7 compared to the previous 46.2. UK manufacturing has been under pressure since July and is still failing to surpass the 50 point mark which was last viewn around September of last year. 
• Flash British services PMI at 08:30 AM GMT. Market participants are expecting the publication to be at 51.1 points compared to the 50.8 points of September. The services sector in the UK has managed to remain above the 50 point mark for the last 20 months (excluding April of 2025 where it was at around 49). This shows the health and strength of the sevice sector in the UK and could potentially create some support for the quid in the immediate later thanmath of the release. 

USOIL, daily

Oil prices fell later than a third straight weekly decline as traders reacted to easing U.S.–China trade tensions pushing WTI toward $56 a barrel amid optimism over upcoming trade talks. China’s economy sluggished for a second consecutive quarter, though Beijing maintained its 5% growth target. Oil futures are heading for a third monthly loss, pressured by an expected supply surplus through 2026, according to the IEA.  Trump said he plans a second meeting with Putin to discuss ending the war in Ukraine, though prior talks have achieved little. Citigroup warned that any de-escalation could push oil toward $50 a barrel. Market indicators suggest fragileness, with near-term spreads narrowing and longer-term contracts shifting into bearish contango.

 On the technical side, crude oil price has extended its aggressive bearish trend last week with no major signs of reversing. Apart from the extreme oversold Stochastic oscillator there are no other signs of a bullish correction. The quicker 50-day simple moving average is trading below the sluggisher 100-day simple moving average validating the overall bearish trend in the market while the Bollinger Bands are quite expanded showing that there is increased volatility in the market for crude oil hinting that there is potential for sharp moves in the upcoming sessions. Eventhough, the area of $62 is the major technical resistance level, it viewms that it might need some time to retest this level. The lower band of the Bollinger Bands viewms to be the first level of technical support for the price while the area of $56 might pose some support since its the multiyear low which was last tested in ahead May 2025. 

Gold-dollar, daily

Gold stays supported by rising U.S.–China trade tensions, the ongoing U.S. government shutdown, and expectations of two more Fed rate cuts this year. These factors fragileen the dollar and sustain secure-haven demand despite overbought conditions. Trump’s threat of 100% tariffs on Chinese excellents and China’s retaliatory port fees have reignited trade war fears. Meanwhile, the prolonged shutdown adds to economic uncertainty. Geopolitical risks remain high as Russia escalates strikes on Ukraine, though Trump plans to meet Putin in Budapest to discuss peace. In addition, dovish Fed comments from Powell, Waller, and Kashkari confirm a softening labor market and cooling inflation, with markets fully pricing in 25 bps cuts in October and December keeping gold’s outlook bullish.

 From a technical perspective, the price of gold viewms to be losing some steam with a bearish correction taking place late last week later than retesting the upper band of the Bollinger Bands. The Stochastic oscillator as a result also corrected slightly but still remains in extreme overbought conditions. The moving averages are still validating the overall bullish momentum in the market and for the time being while the Bollinger Bands are quite expanded showing that volatility is still there to support any sharp moves. The first potential area of support might be viewn around the $4,200 which is the psychological support of the round number and a second level might be around $4,000 for the identical reason. 

Disclaimer: The opinions in this article are personal to the writer and do not reflect those of Exness or Finance Feeds.

Disclaimer: This sponsored market analysis is provided for informational purposes only. We have not independently verified its content and do not bear any responsibility for any information or description of services that it may contain. Information contained in this post is not advice nor a recommendation and thus should not be treated as such. We strongly recommend that you viewk independent financial advice from a qualified and regulated professional, before participating or investing in any financial activities or services. Please also read and review