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Weekly outlook of financial market events

The new business week, which is marked in this year’s 2023 calendar as the 39th in a row, for the time being at its beginning brought to financial market participants a rather prevailing business trend of falling prices of investment instruments, especially with regard to commodity markets, but with the exception of oil, which still maintains its price in a bullish trend. According to analysts of brokerage companies and financial strategists of investment banks, this current state of the trading trend is largely due to the strengthening exchange value of the American dollar (USD), especially in the framework of trading in commodity markets.

Currently, during the European Monday morning on September 25, 2023, at approximately 7:38 CET, the exchange value of the American dollar (USD) was moving according to the dollar index DXY (US Dollar Currency Index) at a value of 105.60 USD points with a provisional so-called de facto technical growth of + 0.02% of its previous point value according to this index, which compares the value of the USD with the other six major world currencies. Thus, on the indicated day and time, the global currency pair of the single European currency euro (EUR) and the US dollar (USD), as the main currencies of the world commodity markets, traded at a mutual exchange rate at a value of 1.064 USD per EUR, with a daily decrease of the EUR by *- 0.085% exchange rate against USD.

Traders, investors and other financial market participants expect the following events in this 39th week of 2023:

New real estate sales in the US

The new home sales index reflects sales figures for newly constructed single-family homes in the US. It is used to measure US housing market conditions. The growth of the index can have a positive effect on dollar quotes. The data for this index will be published on Tuesday 26/09/2023 at 16:00 CET, assuming a value of 699K.

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 of this index will be published on Tuesday 26/09/2023 at 16:00 CET. According to analytical estimates, a drop from 106.1 to 105.5 points is expected.

US durable goods orders – monthly

Monthly durable goods orders reflect the value of orders received by durable goods manufacturers in a given month compared to the previous month. The production of the transport industry is excluded from the calculation. The development of the index enables short-term forecasts of future production volumes. An increase in value can have a positive effect on dollar quotes. The information will be published on Wednesday 09/27/2023 at 14:30 CET and is expected to increase by 0.1% compared to last month.

Speech by Jerome Powell

Jerome Powell has been Fed Governor since 2012 and his second term expires in 2028. Volatility is often seen during his speeches as traders try to decipher interest rate clues. As head of the central bank, which controls short-term interest rates, he has more influence over the value of a nation’s currency than any other person. Traders scrutinize his public commitments because they are often used to reveal subtle clues about future monetary policy. This speech will take place on Thursday 28/09/2023 from 16:00 CET.

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 Thursday 09/28/2023 at 14:30 CET. According to economic correspondents following economic analysts, an increase of 2.3% is expected.


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