Weekly outlook of financial market events


The new trading week, which is marked in the 2023 calendar as the 35th in a row so far within the foreign exchange market, brought traders, investors and other financial market participants a slightly decreasing trading trend of the exchange value of the US dollar (USD). During the Monday European morning on 28/08/2023, at approximately 8:18 CET, the value of the USD according to the dollar index DXY (US Dollar Currency Index) was at a point level of 104.00 USD points with a daily decrease of -0.08% points so far values according to this index, which compares the value of the USD with another six major world currencies.

On the indicated day and time, for example, the global currency pair of the single European currency, the euro (EUR) and the US dollar (USD), as the world’s reserve currency, was traded within the forex operations of the foreign exchange market at a mutual exchange rate at a value of 1.082 USD per EUR with the previous by the daily strengthening of the EUR by +0.16% against the USD. However, according to analysts of brokerage companies, in connection with the financial strategies of investment banks, the dominant position of the US dollar (USD) still prevails within the global financial market, especially in the realm of commodity markets, where the USD plays the role of the world’s main commodity currency.

  In this 35th week of 2023, investors, traders and other financial market participants expect, among others, the following events:

CCI US Consumer Confidence Index – Monthly

The consumer confidence index shows the level of consumer confidence in the stability of the country’s economy. It is intended to evaluate the relative financial status, purchasing power and confidence of the average consumer. The growth of the indicator assumes an increase in consumer spending. The data for this index will be published on Tuesday 29/08/2023 at 16:00 CET. According to analytical estimates, a drop from 117 to 116.2 points is expected.

US Gross Domestic Product (GDP) – Quarterly

This data is a measure of the total value of goods and services produced in the US. GDP is the most comprehensive indicator of economic performance and provides key insight into the driving forces of the economy. This data will be published on Wednesday 30/08/2023 at 14:30 CET. According to economic reporters, following economic analysts, no change is expected compared to the previous results (2.4%).

US Non-Farm Employment Change – Monthly

Nonfarm Employment Change shows the monthly change in 19 manufacturing sectors in the United States. The indicator does not take agriculture into account. The indicator characterizes activity on the labor market and in the industrial sector. Employment growth can have a positive effect on USD quotes. The data of this index will be published on Friday 09/01/2023 at 14:30 CET and it is expected to increase by 169 thousand compared to last month.

Average salary in the USA – monthly

The wage indicator represents the number of new jobs created in a given month in all US non-farm sectors. Even the growth of this indicator can have a positive effect on dollar quotations. This information will be published on Friday 09/01/2023 at 14:30 CET and is expected to increase by 0.3% compared to last month.

US unemployment – monthly

The unemployment rate shows the number of unemployed people as a percentage of the working-age population. The calculation is done monthly. The unemployed are defined as persons between the ages of 15 and 74 who are not currently employed, although they are available for work and actively looking for it. The growth of the indicator may have a negative effect on quotes in dollars. The value of the index will be published on Friday 09/01/2023 at 14:30 CET and is expected to remain at 3.5%.