Major News Events Coming Up This Week

Significant events to watch:

-UK (GBP) Gross Domestic Product (MoM)

-US ( USD): Core CPI (MoM)

-US (USD): Initial Jobless Claims

UK (GBP) Gross Domestic Product (MoM) – Gross Domestic Product (GDP) measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy. It is the broadest measure of economic activity and the primary indicator of the economy’s health.

A higher than expected reading should be taken as positive/bullish for the GBP, while a lower than expected reading should be taken as negative/bearish for the GBP.

The previous data was 0.5% which was better than the expected 0.2%. The upcoming report is due on September 13, 06:00 GMT.

US ( USD): Core CPI (MoM) – The Core Consumer Price Index (CPI) measures the changes in the price of goods and services, excluding food and energy. The CPI measures price change from the perspective of the consumer. It is a key way to measure changes in purchasing trends and inflation.

A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.

The previous reading was 0.2%, the same as expected. The next report is due on September 13, 12:30 GMT. Its forecast also stands at 0.2%.

US (USD): Initial Jobless Claims – Initial Jobless Claims measures the number of individuals who filed for unemployment insurance for the first time during the past week. This is the earliest U.S. economic data, but the market impact varies from week to week.

A higher than expected reading should be taken as negative/bearish for the USD, while a lower than expected reading should be taken as positive/bullish for the USD.

The previous actual data was 216K compared to the forecast of 234K. The upcoming report is due on September 14, 12:30 GMT and its forecast figure is 226K.

Risers and Fallers

-Nasdaq  (-2.06%)

-Netflix Inc. (+1.10%)

-Nvidia Corp. (-8.43%)

-Crude oil (+1.93%)

Nasdaq – The Nasdaq declined 2.06% in the last week, closing at almost 15,280. However, the stock has performed relatively well in the past 6 months, showing an overall appreciation rate of almost 28%.

Netflix (NASDAQ: NFLX) – Netflix stock surged 1.10% in the last week.  The stock has showed a remarkable performance over the last 6 months, registering over 50% gains till now.

Nvidia Corp. (NASDAQ: NVDA  – Nvidia’s stock experienced a setback previous week, declining more than 8% in the last 5 days. But it has performed exceptionally good this year, registering gains of over 218% YTD.

Crude Oil (Brent) – Crude oil’s price increased 1.93% during the previous week. Currently, the commodity is trading at $89.92 per barrel.

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