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Weekly outlook of financial market events

The beginning of the new week, which is marked in the calendar of this year 2024 as the fifth in a row, was in the business trend of re-strengthening the exchange value of the American dollar (USD) and within the forex operations of the foreign exchange market, the global currency pair of the single European currency Euro (EUR) and the American dollar (USD) as the main currency of the commodity market during the European morning on 29/01/2024 at around 10:38 CET in the mutual exchange rate at a value of 1.082 USD per EUR with a daily decrease of EUR by -0.267% against the USD.

Investors, traders and other financial market participants expect the following events in this 5th week of 2024:

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 01/30/2024 at 16:00 CET. According to analytical estimates, the current value is expected to increase from 110.7 to 113.9 points.

FED (Federal Reserve System) interest rate change decision

The FED decides on interest rates on a predetermined date during a vote among the members of the Federal Open Market Committee (FOMC) regarding the Federal Reserve’s short-term interest rates to be charged on loans and commercial bank loans. A rising rate can have a positive effect on the USD, while a falling rate can have a negative effect on it. If the rate remains unchanged, analysts will evaluate the number of votes “for” and “against” and discuss the statements of voters after the minutes of the meeting are published to predict the results of the next meeting. Members of the FOMC FED will act from Tuesday 30 January 2024 and will announce the outcome of their decision on Wednesday 31 January 2024 at 20:00 CET. According to analysts, the interest rate is expected to remain at 5.5%

US Non-Farm Employment Change – Monthly

Nonfarm Employment Change shows the monthly change in 19 manufacturing sectors in the United States. The indicator does not take agriculture into account. The indicator characterizes activity on the labor market and in the industrial sector. Employment growth can have a positive effect on USD quotes. The data of this index will be published on Friday 02/02/2024 at 14:30 CET and it is expected to increase by 177 thousand jobs.

Average salary in the USA – monthly

The wage indicator represents the number of new jobs created in a given month in all US non-farm sectors. Even the growth of this indicator can have a positive effect on dollar quotations. This information will be published on Friday 02/02/2024 at 14:30 CET and is estimated to have increased by 0.3% compared to the previous month.

US 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, although they are available for work and actively looking for it. The growth of the indicator may have a negative effect on quotes in dollars. The value of the index will be published on Friday 02/02/2024 at 14:30 CET and the value is expected to be 3.8%.


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