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Week Ahead: Upcoming Major Reports from the UK, EU, and US

  

Significant events to watch:

-UK (GBP): U.K. Gross Domestic Product (YoY)

-EU (EUR): Germany Consumer Price Index (CPI) MoM

-USA (USD): Initial Jobless Claims

EU (EUR): Germany Consumer Price Index (CPI) MoM – The German Consumer Price Index (CPI) measures the changes in the price of goods and services purchased by consumers.

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

The previous Actual data was 0.0%, lower than the expected 0.2. The forecast for upcoming report also stands at 0.0%. The report is due November 08, 2023, 7:00 GMT.

USA (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 217K, worse than the expected 210K. The forecasted numbers for the upcoming report are 215K. The report is due November 09, 2023, 13:30 GMT.

UK (GBP): U.K. Gross Domestic Product (YoY) – 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 Actual data was 0.6%, better than the expected 0.4%. The forecasted data is now 0.5%. The report is due November 10, 2023, 07:00 GMT.

Risers and Fallers

S&P 500 (+5.29%)

Apple (+4.43%)

NVIDIA (+9.45%)

Brent Oil (-2.93%)

S&P 500 – The S&P 500 surged in value by 5.29% in value last week, closing at almost 4,350. The index has appreciated almost 13.97% year-to-date.

Apple – Apple’s stock gained nearly 4.43% in the last 5 days. However, the stock has showed lukewarm performance in the past 6 months, registering only 1.82% net gains.

NVIDIA  – NVIDIA’s stock jumped previous week, showing more than 9.45%  increase last week. It has performed remarkably good this year, registering gains of almost 214.39% year-to-date.

Crude Oil (Brent) – Crude oil’s price depreciated by 2.93% during the previous week. Currently, the commodity is trading at $85.39 per barrel.


Vantage does not represent or warrant that the material provided here is accurate, current, or complete, and therefore should not be relied upon as such. The information provided here, whether from a third party or not, is not to be considered as a recommendation; or an offer to buy or sell; or the solicitation of an offer to buy or sell any financial instruments; or to participate in any specific trading strategy. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. We advise any readers of this content to seek their own advice. Without the approval of Vantage, reproduction or redistribution of this information is not permitted.

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