At the beginning of the new week, which is marked in the calendar of this year 2023 as the 46th in a row, the exchange value of the American dollar (USD) within the forex operations of the foreign exchange market moved in a bear market trading trend. According to the dollar index DXY (US Dollar Currency Index), which compares the value of the USD with the other six major world currencies, during the European Monday morning on 13/11/2023, at approximately 8:29 CET, the point status of this index was 105.74 USD points with a daily drop of -0.11% of the point value so far.
This drop in the exchange value of the USD was subsequently partially reflected in commodity trades with gold, which strengthened its price. On the indicated day and time, investment gold was traded on the COMEX (Commodities Exchange Centre) commodity market at a value of USD 1,924.90 per troy ounce with a daily increase of +0.27% of its price. During this time, the global currency pair of the single European currency euro (EUR) and the US dollar (USD) was traded on the foreign exchange market at a mutual exchange rate at a value of 1.069 USD per EUR with the daily strengthening of the EUR by + 0.11% against USD.
Investors, traders and other financial market participants expect the following events in this 46th week of 2023:
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 Tuesday 14.11.2023 at 14:30 CET and is expected to increase by 0.1% 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 Wednesday 15/11/2023 at 14:30 CET and is expected to increase by 0.1% 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 Wednesday 15/11/2023 at 14:30 CET and is expected to decrease by 0.3% compared to last month.
US Industrial Production – Monthly
The index shows the change in the value of the production of factories, mines, … It is one of the main indicators of economic health – production reacts quickly to ups and downs in the business cycle and is closely linked to unemployment or the value of the average wage. The values of the index will be published in the USA on Thursday 16/11/2023 at 15:15 CET and a decrease of 0.3% is expected.
Building permits in the USA – monthly
Building Permits shows the number of new facility construction permits issued by a government or other regulatory body for a given month compared to the previous month. Based on this indicator, the medium-term state of the real estate market is predicted. The growth of the index can have a positive effect on dollar quotes. The data of this index will be published on Friday 17/11/2023 at 14:30 CET and the value of 1.45 million permits issued is expected.