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Weekly outlook of financial market events

At the beginning of the new business week, which is marked in the 2024 calendar as the 11th in a row, the exchange value of the US dollar (USD) was still relatively lower in the foreign exchange market. The USD exchange rate showed its relatively lower value at the end of last week after most investors, traders and other financial market participants got a strong feeling that interest rate cuts by the US central bankers will happen soon. Estimates in this regard state that this could happen at the latest at the June FOMC FED meeting before the summer vacation of this year 2024.

Currently, during the European Monday morning of March 11, 2024, at approximately 8:09 CET, the exchange value of the US dollar (USD), measured by the dollar index DXY (US Dollar Currency Index), was at a point level of USD 102.69 points with a daily decrease of -0.02% of the point value so far according to this index, which compares the USD with the other six major world currencies. Thus, on the indicated day and time, the global currency pair of the single European currency euro (EUR) and the US dollar (USD) was traded on the foreign exchange market at a mutual exchange rate at a value of 1.094 USD per EUR with the daily growth of the EUR by + 0.05% against the USD.

Investors, traders and others participating in the financial markets expect the following events in this 11th 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 12/03/2024 at 13:30 CET and an increase in the value of the index by 0.3% is expected.

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 Wednesday 13/03/2024 at 08:00 CET and an increase of 0.2% 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. Index values will be published on Wednesday 13/03/2024 at 8:00 CET and no change is expected from past results.

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 Thursday 14/03/2024 at 13:30 CET and is expected to increase by 0.2% compared to the previous results.

Retail sales in the US – monthly

Retail Sales reflects the change in the total value of sales at the retail level in the month under review compared to the previous one. The calculation is adjusted for inflation. The index is often called an indicator of consumer spending and allows for an appreciation of inflation. Information for the USA will be published on Thursday 14/03/2024 at 13:30 CET and a decrease of 0.5% is expected.

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