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This Week in Focus: Major USD & EUR News to Watch

  

Significant events to watch:

-US (USD): U.S. Consumer Price Index (CPI) YoY

-UK (GBP): U.K. Consumer Price Index (CPI) YoY

-US (USD): U.S. Producer Price Index (PPI) MoM

US (USD): U.S. 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 USD, while a lower than expected reading should be taken as negative/bearish for the USD.

The previous reading was 3.4% better than the expected 3.2%. The next report is due on February 13, 2024 at 13:30 GMT. Its forecast stands at 2.9%.

UK (GBP): U.K. 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 GBP, while a lower than expected reading should be taken as negative/bearish for the GBP.

The previous reading came out to be 4.0% better than the expected 3.8%. The next report is due on February 14, 2024 at 07:00 GMT. Its forecast stands at 4.1%.

US (USD): U.S. Producer Price Index (PPI) MoM – The Producer Price Index (PPI) measures the change in the price of goods sold by manufacturers. It is a leading indicator of consumer price inflation, which accounts for the majority of overall 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 actual data was -0.1% worse than the forecast of 0.1%. The upcoming report is due on February 16, 2024 at 13:30 GMT and its forecast figure stands at 0.1%.

Risers and Fallers

-Dow Jones Industrial Average (+0.32%)

-NVIDIA Corp (+5.70%)

-Tesla Inc (+5.18%)

-Natural Gas (-10.96%)

Dow Jones Industrial Average– The DJI demonstrated a neutral performance last week, registering nearly 0.32% gains. Note that the index has shown a bullish trajectory over the last 1 year, accumulating more than 12% net gains.

NVIDIA Corp – The stock climbed over 5.7% in the last 5 days. NVIDIA has displayed an uptick performance these past 6 months, adding nearly 76.56% in value.

Tesla Inc – Tesla’s stock exhibited a positive performance previous week, gaining almost 5.18% in value. However, it has almost lost over 20% in value during the previous 6 months.

Natural Gas – Natural Gas price dropped 10.96% in the past 5 days. The commodity is now trading at 1.86 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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