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Weekly outlook of financial market events

At the beginning of the new business week, which is marked in the 2023 calendar as the 51st in a row, the exchange value of the US dollar (USD) against other major world currencies decreased slightly within the forex operations of the foreign exchange market. During the European Monday morning on 18/12/2023, at approximately 9:10 CET, the value of the USD according to the dollar index DXY (US Dollar Currency Index) was at 102.46 USD points with a daily decrease of -0.09% of the point value according to of this index, which compares the USD with another six major world currencies.

On the indicated day and time, the so-called global currency pair of the single European currency Euro (EUR) and the US dollar, as the world reserve currency, traded at a mutual exchange rate of USD 1.091 per EUR with a daily growth of EUR + 0.18% exchange rate against the USD. Investors, traders and other financial market participants expect the following events in this 51st week of 2023:

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 Wednesday 20 December 2023 at 16:00 CET. According to analytical estimates, an increase from 102 to 104.1 points is expected.

Retail sales in Canada – monthly

Retail sales reflect the change in retail wages in Canada 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 quotes in the Canadian dollar. The information will be published on Thursday 21/12/2023 at 14:30 CET and an increase of 0.6% compared to last month 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 Thursday 21 December 2023 at 14:30 CET. According to analysts, no change is expected compared to the current value of 5.2%

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 index value will be published on Friday 22/12/2023 at 14:30 CET and is expected to increase by 0.1% compared to last month.

New real estate sales in the US

The new home sales index reflects sales figures for newly constructed single-family homes in the US. It is used to measure US housing market conditions. The growth of the index can have a positive effect on dollar quotes. The data for this index will be published on Friday 22/12/2023 at 15:00 CET, with a predicted value of 687K.

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