At the beginning of the new business week, which is marked in the 2023 calendar as the 47th in a row, the exchange rate of the single European currency euro (EUR) against the US dollar (USD), as the world’s reserve currency, moved within the framework of forex operations of the foreign exchange market bull market trend for EUR. During the European Monday morning on 20/11/2023, at around 7:37 CET, this global currency pair EUR/USD was trading at an exchange rate of 1.092 USD per EUR, with the EUR strengthening by +0.08% against the USD.
Investors, traders and other financial market participants expect the following events in this 47th week of 2023:
CCI Index of consumer confidence in the EU – 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 Wednesday 22 November 2023 CET. According to analytical estimates, no change is expected compared to past results (-18 points).
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 value of the index will be published on Wednesday 22 November 2023 at 14:30 CET and its value is expected to decrease by 3.2% compared to last month.
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 Thursday 23 November 2023 at 10:00 CET. Its value is expected to increase from the current 47.8 to 48 points. For the USA on Friday 11/24/2023 at 15:45 CET. Its value is expected to decrease from the current 50.6 to 50.4 points.
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 Thursday 23 November 2023 at 10:00 CET. According to analysts, an increase from 43.1 to 43.3 points is expected. For the USA on Friday 11/24/2023 at 15:45 CET. According to analysts, a drop from 50 to 49.9 points is expected.
Retail sales in Canada – 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 Friday 24/11/2023 at 14:30 CET and is expected to decrease by 0.3% compared to last month.