This new business week, which is marked as the 44th in the calendar for this year 2023, will bring decisive data, especially from the United States of America. Meanwhile, currently during the European Monday morning on October 30, 2023, at approximately 6:40 CET, the US dollar (USD) still shows a strong exchange position against other world currencies and the so-called global currency pair of the single European currency, the euro (EUR) and The US dollar (USD) traded at a mutual exchange rate of USD 1.056 per EUR, with the USD strengthening by +0.057% against EUR on the day to date.
Investors, traders and other financial market participants in this 44th week of 2023 expect, among other things, the following events that may affect the business trend of the global market:
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 31 October 2023 at 15:00 CET. According to analytical estimates, the current value is expected to drop from 103 to 100.1 points.
FED (Federal Reserve System) interest rate change decision
The FED decides on interest rates on a predetermined date during a vote among the members of the Federal Open Market Committee (FOMC) regarding the Federal Reserve’s short-term interest rates to be charged on loans and commercial bank loans. A rising rate can have a positive effect on the USD, while a falling rate can have a negative effect on it. If the rate remains unchanged, analysts will evaluate the number of votes “for” and “against” and discuss the statements of voters after the minutes of the meeting are published to predict the results of the next meeting. Members of the FOMC FED will announce their decision from the two-day meeting on Wednesday 1 November 2023, at approximately 19:00 CET. According to analysts, the interest rate is expected to remain at a level between 5.25-5.5% per year.
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 03/11/2023 at 13:30 CET and it is expected to increase by 182 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 03/11/2023 at 13:30 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 for this index will be published on Friday 03/11/2023 at 13:30 CET and is expected to remain at 3.8 percent.
