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Weekly outlook of financial market events

At the beginning of the new business week, which in the calendar of this year 2024 is referred to as the third in order, the exchange value of the US dollar (USD) according to the dollar index DXY (US Dollar Currency Index) was slightly increasing, when during the Monday European morning of 15.1. 2024, at approximately 8:46 CET, the status of the DXY index was 102.46 USD points with a daily increase of + 0.06% of the point value according to this index, which compares the exchange value of the USD with another six major world currencies, including the single European currency euro (EUR).

Thus, on the indicated day and time, the global currency pair of the single European currency Euro (EUR) and the US dollar (USD), as the world’s main commodity currency, was traded within the forex operations of the foreign exchange market at a mutual exchange rate of USD 1.095 per EUR with the previous daily strengthening of the EUR by +0.05% against the USD. According to the analysts of the brokerage companies, this increase of the euro against the US dollar has kept investment gold still in the current trading trend of the bull market at a value above USD 2,000 per troy ounce. Currently, on the indicated day and time, investment gold was traded on the commodity market COMEX (Commodities Exchange Centre) with a value of USD 2,058.70 per troy ounce with a daily growth of + 0.35% of its price so far.

Investors, traders and other financial market participants expect the following events in this 3rd week of 2024:

UK unemployment – 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, even if they are available for work and have been actively looking for work for at least 3 months. The growth of the indicator can have a negative effect on quotes in pounds. The data for this index will be published on Tuesday 16/01/2024 at 08:00 CET and is expected to remain at 4.2%.

CPI Consumer Price Index in Canada – Monthly

The consumer price index reflects changes in the prices of consumer goods and services in a given year compared to the previous year. 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 the pound and euro quotations. The value of the index will be published on Tuesday 16/01/2024 at 14:30 CET. According to analysts, a decrease of 0.3% is expected.

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. Information for the USA will be published on Wednesday 17/01/2024 at 14:30 CET and an increase in value of 0.2% is expected.

Selling existing homes in the US

Annualized number of residential buildings that were sold during the previous month, excluding new construction. It’s a leading indicator of economic health because home sales create a wide-ranging ripple effect. For example, the renovations are carried out by the new owners, the mortgage is sold by the financial bank and the brokers are paid to execute the transaction. Data will be published on Friday 19/01/2024 at 16:00 CET. According to analysts, a value of 3.83M is expected.

Producer Price Index in Germany – 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 released on Friday 19/01/2024 at 08:00 CET and is expected to be down 0.4% compared to past results.

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