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Weekly outlook of financial market events

During the European Monday morning on November 27, 2024, the exchange value of the single European currency euro (EUR) against the US dollar moved in a bullish market trend, and the US dollar against the euro continued to weakened. Thus, at the beginning of the new week, which is marked as the 48th in the calendar for this year 2023, the US dollar weakened against the British pound (GBP), but also against the Japanese yen (JPY), with the exception of the EUR.

Currently, on 27/11/2023, at approximately 9:13 CET, the exchange value of the US dollar according to the DXY index (US Dollar Currency Index) was at a value of 103.29 USD points with a daily decrease of -0.11% of the point value so far according to this index, which compares the USD with six other major world currencies. For example, the so-called global currency pair EUR/USD was trading at a mutual exchange rate of 1.095 USD per EUR on the indicated day and time, with a + 0.07% appreciation of the EUR against the USD for the day to date. The GBP/USD exchange rate was then at $1.262/GBP with the GBP strengthening by +0.09% against the USD on the day and the Japanese Yen strengthening against the USD by +0.274% during the day’s trading so far at 149 .03 JPY per USD. This fall in the exchange value of the USD is currently being used by investment gold traders, with the price of gold still holding above the value of USD 2,000 per troy ounce, reaching a value of USD 2,012.60 per troy ounce on the indicated day and time, with daily growth to date by + 0.48% of the price.

Traders, investors and other participants in the financial markets in this 48th week of 2023 expect, among other things, the following events:

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 28 November 2023 CET. According to analytical estimates, a drop from 102.6 to 101 points is expected.

US Gross Domestic Product – Quarterly

This data is a measure of the total value of goods and services produced in the UK. 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 Wednesday 29/11/2023 at 14:30 CET. According to analysts, an increase of 5% is expected.

Retail sales in Germany – monthly

Retail sales reflect the change in retail wages in Germany in the month under review compared to the previous one. 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 quotations in euros. The information will be published on Thursday 30/11/2023 at 14:30 CET and an increase of 0.3% compared to last month is expected.

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 of this index will be published: For the EU on Friday 01/12/2023 at 10:00 CET. According to analysts, no change is expected compared to the previous results (43.8 points). For the USA on Friday 01/12/2023 at 16:00 CET. According to analysts, an increase from 46.7 to 47.7 points is expected.

Unemployment in Canada – 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 Canadian dollars. The data of this index will be published on Friday 01/12/2023 at 14:30 CET and no change is expected from the past results (5.7%)

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