At the beginning of the new trading week, which is marked in the 2023 calendar as the 37th in a row, the exchange value of the US dollar (USD) was still relatively high, but currently already in a trading trend of its decline. Currently, during the European morning of Monday 11/09/2023, at approximately 8:04 CET, the value of the USD according to the dollar index DXY (US Dollar Currency Index) was at a value of 104.64 USD points with a daily decrease of -0.43 % point value according to this index, which compares the USD with another six major world currencies.
On the indicated day and time, the so-called global currency pair of the single European currency Euro (EUR) and the US dollar (USD), as the world’s main reserve currency, traded in the forex operations of the foreign exchange market at a mutual exchange rate of 1.073 USD per EUR with by the daily strengthening of the EUR by + 0.26% against the USD.
Investors, traders and other financial market participants expect the following events in this 37th week of 2023:
Gross Domestic Product (GDP) in Britain – monthly
This data is a measure of the total value of goods and services produced in a country. GDP is the most comprehensive indicator of economic performance and provides key insight into the driving forces of the economy. These data will be published on Wednesday 13/09/2023 at 08:00 CET. According to economic correspondents, in line with economic analysts, GDP is expected to decrease by 0.2% compared to last month.
Manufacturing production in Britain – monthly
Manufacturing production reflects the change in the total value, adjusted for inflation, of manufacturing output. Manufacturing accounts for about 80% of total output and, as it responds quickly to ups and downs in the business cycle and correlates with consumer conditions such as employment levels and wage changes, it is a leading indicator of economic health. The values of the index will be published on Wednesday 13/09/2023 at 08:00 CET and the value is expected to decrease by 0.9% compared to last month.
CPI US Consumer Price Index – monthly
The monthly Consumer Price Index reflects changes in the prices of consumer goods and services in a given month compared to the previous one. The index shows price changes from the consumer’s perspective. The consumer price index characterizes inflationary dynamics. Its growth can have a positive effect on dollar quotes. The value of the index will be published on Wednesday 13/09/2023 at 14:30 CET and is expected to increase by 0.2% compared to last month.
US Producer Price Index – monthly
These data are showing changes in the prices of finished goods and services sold by manufacturers. This is a leading indicator of consumer inflation – when producers charge more for their goods and services, higher costs are usually passed on to consumers. This data will be published on Thursday 14/09/2023 at 14:30 CET and is expected to increase by 0.4% compared to the previous results.
Retail sales in the US – monthly
Retail sales reflect the change in U.S. retail wages in the month under review compared to the previous month. The calculation is adjusted for inflation. The index is often called an indicator of consumer spending and allows for an assessment of inflation in the country. The growth of the indicator can have a positive effect on the dollar quotes. The information will be published on Thursday 14/09/2023 at 14:30 CET and an increase of 0.2% is expected compared to the previous results.