The beginning of the new week, which is marked as the second in the calendar of this year 2024, has for now brought investors, traders and other participants of the financial market within the forex operations of the foreign exchange market a continued trading trend strengthening the exchange values of the US dollar (USD) against other currencies and especially against major world currencies. Currently, during the European morning of Monday 8/1/2024, at approximately 9:51 CET, the currency pair EUR/USD was trading at a mutual exchange rate at a value of 1.093 USD per EUR, with a daily growth of the USD by + 0.073% against the single European currency, the euro. (EUR).
Investors and other market participants expect the following events in this 2nd week of 2024:
Unemployment in the EU – 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 quotations in euros. The data of this index will be published on Tuesday 09/01/2024 at 11:00 CET and is expected to remain at 6.5%.
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 Thursday 11/01/2024 at 14:30 CET and is expected to increase by 0.2% compared to last month.
Gross Domestic Product (GDP) in Britain – monthly
This data is a measure of the total value of goods and services produced in the euro area countries. 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 Friday 12 January 2024 at 8:00 CET. According to economic correspondents following economic analysts, an increase of 0.2% compared to last month is expected.
Manufacturing production in Britain – monthly
Manufacturing production reflects the change in the total value, adjusted for inflation, of manufacturing output. Manufacturing accounts for about 80% of total output and, as it responds quickly to ups and downs in the business cycle and correlates with consumer conditions such as employment levels and wage changes, it is a leading indicator of economic health. The values of the index will be published on Friday 12/01/2024 at 8:00 CET and an increase in value of 0.3% is expected.
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 Friday 12/01/2024 at 14:30 CET and is expected to be a slight increase of 0.1% compared to the past results.