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Key USD & GBP News Releases To Keep an Eye on This Week

  

Significant events to watch:

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

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

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

US (USD): U.S. Consumer Price Index (CPI) MoM – 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 0.3%, more than the expected 0.2%. The next report is due on March 12, 2024 at 12:30 GMT. Its forecast stands at 0.4%.

UK (GBP): U.K. Gross Domestic Product (GDP) MoM – 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 reading was -0.1% better than the expected -0.2%. The upcoming report is due on March 13, 2024 at 07:00 GMT. Its forecast stands at 0.2%.

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 0.3% better than the forecast of 0.1% The upcoming report is due on March 14, 2024 at 12:30 GMT and its forecast figure also stands at 0.3%.

Risers and Fallers

-S&P 100 (-0.46%)

-AstraZeneca plc (+3.42%)

-Intel Corp (-0.63%)

-Oil (WTI) (-2.45%)

S&P 100 Index– The index demonstrated a slightly negative performance last week, losing nearly 0.46% in value. Overall, the S&P 100 has shown a notable bullish trajectory over the last 1 year, accumulating almost 38% gains.

AstraZeneca plc – The stock climbed by 3.42% in the last 5 days. Moreover, AstraZeneca has displayed an uptick performance this past month, adding over 8% in value.

Intel Corp – Intel’s stock declined previous week, shedding nearly 0.63% in value. However, it has exhibited a positive performance during the previous 6 months, accruing nearly 14.02% gains.

Oil (WTI) – WTI Crude price declined 2.45% in the past 5 days. The commodity is now trading at 77.84 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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