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.

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