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Weekly outlook of financial market events

The new week, which is marked in the calendar of this year 2023 as the 40th week in a row, still maintains a very strong exchange value of the American dollar (USD) against other world currencies. Currently, during the European morning of Monday 2/10/2023, approximately at 11:07 CET, the value of the USD according to the dollar index DXY (US Dollar Currency Index) was at a point level of 106.35 USD points with a daily growth of + 0.12 so far % of your point value. Thus, on the indicated day and time, the global currency pair EUR/USD traded at a rate of 1.055 USD per EUR, with a decrease of EUR by -0.18% against the USD.

Investors, traders and other financial market participants expect the following events in this 40th week of 2023:

Purchasing Managers’ Manufacturing Index (PMI) in the EU and the US – monthly

The Manufacturing PMI reflects the activity of business managers in given areas in a given month. The index is used in evaluating the development of the industrial sector. Values above 50 can have a positive effect on EUR and USD quotes. The data for this index will be published: for the EU on Monday 02 October 2023 at 10:00 CET. No change expected from past results (43.4 points) For USA on Monday 02/10/2023 at 16:00 CET. According to analysts, a slight increase from 47.6 to 47.8 points is expected.

Non-manufacturing Purchasing Managers’ Index (PMI) in the EU and USA – monthly

The Services PMI reflects activity in the services sector in the reporting month. The indicator is based on a survey of representatives of more than 600 companies for the EU and more than 300 companies for the USA. Values above 50 can have a positive effect on EUR and USD quotes. The data for this index will be published: for the EU on Wednesday 04/10/2023 at 10:00 CET. No change expected from past results (48.4 points) For USA on Wednesday 04/10/2023 at 16:00 CET. According to analysts, a drop from 54.5 to 53.5 points is expected.

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 06/10/2023 at 14:30 CET and it is expected to increase by 168 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. The data of this index will be published on Friday 06/10/2023 at 14:30 CET. An increase of 0.3% compared to last month is expected.

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 data of this index will be published on Friday 06/10/2023 at 14:30 CET. According to analysts, a slight decrease from 3.8% to 3.7% is expected.

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