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Weekly outlook of financial market events

At the beginning of the new week, which is marked in the calendar of this year 2024 as the eighth in a row, the exchange value of the American dollar (USD) moved against other major world currencies in the business trend of its current decline according to the DXY dollar index. This DXY index (US Dollar Currency Index) currently showed a point value of 104.20 USD points during the European morning of Monday 2/19/2024, approximately at 7:41 CET, with a daily weakening of -0.09% of the point value according to of this index, which compares the value of the USD with another six major world currencies.

Thus, on the indicated day and time, the global currency pair of the single European currency Euro and the US dollar was traded within the forex operations of the foreign exchange market at a mutual exchange rate at a value of 1.078 USD per EUR with a daily growth of the EUR by + 0.06% against the USD . Investors, traders and other financial market participants expect the following events in this 8th week of 2024:

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 Tuesday 20/02/2024 at 14:30 CET and an increase in its value by 0.4% is expected.

FED minutes – FOMC meeting minutes

On Wednesday 22/02/2023 at 20:00 CET, the minutes of the meeting of the Federal Free Market Committee held two weeks ago will be published. The minutes provide detailed information on the FOMC’s stance on monetary policy, so currency traders in particular are scrutinizing it for clues about the outcome of future interest rate decisions.

CCI Index of consumer confidence in the EU – 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 21/02/2024 at 16:00 CET. According to analytical estimates, the index is expected to remain at the current value (-16 points).

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 for this index will be published: for the EU on Thursday 22/02/2024 at 10:00 CET. Its value is expected to increase from the current 46.6 to 47 points. For the USA on Thursday 2/22/2024 at 15:45 CET. Its value is expected to drop from 50.7 to 50.1 points.

Non-manufacturing purchasing managers’ index (PMI) in the EU and the US – monthly

The Services PMI reflects activity in the services sector in the EU and the US in the reporting month. The indicator is based on a survey of representatives of more than 600 companies for the EU and more than 400 companies for the USA. Values above 50 can have a positive effect on EUR and USD quotes. The data for this index will be published: for the EU on Thursday 22/02/2024 at 10:00 CET. Its value is expected to increase from the current 48.4 to 48.8 points. For the USA on Thursday 2/22/2024 at 15:45 CET. Its value is expected to drop from the current 52.5 to 52 points.

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