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Weekly Outlook: Key USD, GBP Events to Watch

  

Significant events to watch:

-US (USD): U.S. Initial Jobless Claims

-UK (GBP): U.K. Nationwide HPI MoM

-US (USD): U.S. Pending Home Sales MoM

US (USD): U.S. 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 reading was 205k better than the expected 214K. The next report is due on December 28, 13:30 GMT. Its forecast stands at 211k.

UK (GBP): U.K. Nationwide HPI MoM – The Nationwide Housing Price Index (HPI) measures the change in the selling price of homes with mortgages backed by Nationwide. It is the U.K.’s second earliest report on housing inflation.

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 reading came out to be 0.2%, better than the expected -0.4%. The next report is due on December 29, 07:00 GMT. Its forecast stands at 0.1%.

US (USD): U.S. Pending Home Sales MoM – The National Association of Realtors (NAR) Pending Home Sales Report measures the change in the number of homes under contract to be sold but still awaiting the closing transaction, excluding new construction.

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 actual data was -1.5% better than the forecast -2.0%.The upcoming report is due on December 28, 15:00 GMT and its forecast figure stands at 1.1%.

Risers and Fallers

-Nikkei 225 (+1.22%)

-Enphase Energy (+10.32%)

-Advanced Micro Devices (+0.35%)

-Brent oil (+1.21%)

Nikkei 225– The index demonstrated a positive performance last week, surging by 1.22% in value. Note that the Nikkei 225 has shown lukewarm performance in the previous 6 months, registering only 1.44% net gains.

Enphase Energy – The stock climbed by nearly 10.32% in the last 5 days. The stock has shown a negative performance this year, losing over 47% in value.

AMD – AMD’s stock remained neutral previous week, adding 0.35% in value. It has almost gained 118% year-to-date.

Brent oil – Brent oil’s price increased by 1.21% during the previous week. The commodity is now trading at 78.34 USD.


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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