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Weekly outlook of financial market events

In the first week of April of this year 2024, which is marked in the calendar as the 14th in a row, the exchange value of the US dollar (USD) was very high for the time being within the forex operations of the foreign exchange market. Currently, during the European Tuesday morning on 2/4/2024, at approximately 9:35 CET, the point status of the dollar index DXY (US Dollar Currency Index) was 105.04 USD points with a daily growth of + 0.02% 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 (EUR) and the US dollar (USD), as the central currency of the global commodity market, traded at a mutual exchange rate value of 1.074 USD per EUR with a daily decrease of EUR by -0.075 % exchange rate against USD. Investors, traders and other financial market participants expect the following events in this 14th week of 2024:

Non-manufacturing Purchasing Managers’ Index (PMI) in the EU and USA – monthly

The ISM Services PMI reflects activity in the services sector in the reporting month. The indicator is based on a survey of representatives of more than 600 companies for the EU and more than 300 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 04/04/2024 at 10:00 CET. According to analysts, it is expected to remain at 51.5 points. For the USA on Wednesday 03/04/2024 at 16:00 CET. According to analysts, a slight increase from 52.6 to 52.8 points is expected.

Index of producer prices in the EU – 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 04/04/2022 at 11:00 CET and a decrease of 0.6% is expected.

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 05/04/2024 at 14:30 CET and it is expected to increase by 205 thousand compared to last month.

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. The data of this index will be published on Friday 04/05/2024 at 14:30 CET. An increase of 0.3% compared to last month is expected.

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 data of this index will be published on Friday 04/05/2024 at 14:30 CET and is expected to remain at 3.9%.

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