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Weekly outlook of financial market events

The beginning of the new business week, which is marked in the calendar of this year 2024 as the 12th in a row, is currently developing in relation to the exchange value of the American dollar (USD) as a market with a temporary decrease in the exchange value of the USD within the forex operations of the foreign exchange market. However, the US dollar initially showed growth up to the DXY index value of 103.51 and then headed lower to the current DXY dollar index value of 103.35 USD points with a daily decrease of -0.08% of the point value so far according to this index, which compares the USD with six other major world currencies.

This current daily point status of the DXY index during the beginning of the European Monday afternoon on 18/03/2024, at approximately 12:38 CET, is thus the lowest daily index value measuring the exchange value of the US dollar (USD) so far. Thus, on the indicated day and time, the global currency pair of the single European currency euro (EUR) against the US dollar (USD) was traded at a mutual exchange rate at a value of 1.0903 USD per EUR with the daily strengthening of the EUR by + 0.147% against the USD .

Investors, traders and other participants in the financial markets in this 12 weeks of this year 2024 are expecting, among others, the following events:

CPI UK Consumer Price Index – Annual

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 sterling, euro quotes and pounds. The index value will be published on Wednesday 20/03/2024 at 08:00 CET. According to economic reporters, following economic analysts, the value of the index is expected to be 3.5%

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 FED will traditionally meet for a two-day meeting from 19-20 March 2024, and on Wednesday 20 March 2024 at approximately 19:00 CET, the chairman of the FOMC FED, Mr. Jerome Powell, will announce the decision of this meeting and comment on the current development of the US economy. According to analysts, the interest rate is expected to remain at the current level of 5.5% p.a..

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 03/21/2024 at 10:00 CET. According to economic correspondents following economic analysts, an increase in value from 46.5 to 47 points is expected. For USA on Thursday 03/21/2024 at 14:45 CET. According to economic correspondents following economic analysts, a drop in value from 52.2 to 51.8 points is expected.

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 03/21/2024 at 10:00 CET. A slight increase in its value is expected from the current 50.2 to 50.5 points. For the USA on Thursday 03/21/2024 at 14:45 CET. A slight decrease in its value is expected from the current 52.3 to 52 points.

UK retail sales – 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 inflation to be evaluated. The information will be published on Friday 22/03/2024 at 08:00 CET and a decrease of 0.3% is expected.

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