Significant events to watch:

-US (USD): U.S. ADP Nonfarm Employment Change

-US (USD): Fed Interest Rate Decision

-EU (EUR): Eurozone Consumer Price Index (CPI) YoY

US (USD): U.S. ADP Nonfarm Employment Change – The ADP National Employment Report is a measure of the monthly change in non-farm, private employment, based on the payroll data of approximately 400,000 U.S. business clients. The release, two days ahead of government data, is a good predictor of the government’s non-farm payroll report. The change in this indicator can be very volatile.

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 164K better than the expected 115K. The next report is due on January 31, 2024 at 13:15 GMT. Its forecast stands at 143K.

US (USD): Fed Interest Rate Decision – Federal Open Market Committee (FOMC) members vote on where to set the rate. Traders watch interest rate changes closely as short term interest rates are the primary factor in currency valuation.

A higher than expected rate is positive/bullish for the USD, while a lower than expected rate is negative/bearish for the USD.

The previous reading came out to be 5.50% which was in line with the expectations. The next report is due on January 31, 2024 at 19:00 GMT. Its forecast also stands at 5.50%.

EU (EUR): Eurozone Consumer Price Index (CPI) YoY – The Consumer Price Index (CPI) measures the change in the price of goods and services 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 EUR, while a lower than expected reading should be taken as negative/bearish for the EUR.

The previous actual data was 2.9% – same as the forecast. The upcoming report is due on February 01, 2024 at 10:30 GMT and its forecast figure stands at 2.9%.

Risers and Fallers

-S&P100 (+0.83%)

-Netflix Inc(+16.89%)

-AMD (+1.59%)

-Spot Gold (-0.53%)

S&P100– The index demonstrated a slight surge last week, registering nearly 0.83% gains. Note that the S&P100 has shown a bullish trajectory over the last 1 year, registering more than 29% net gains.

Netflix Inc – The stock remarkably climbed over 16% in the last 5 days. The stock has displayed an uptick performance these past 6 months, adding more than 33% in value.

AMD – AMD’s stock exhibited a positive performance previous week, gaining over 1.5% in value. Overall, it has almost gained 144% in the previous 12 months.

Gold – XAUUSD price dropped 0.53 % in the past 5 days. The commodity is now trading at 2018 USD.

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