Significant events to watch:

-CA (CAD): Canada Consumer Price Index (CPI) MoM

-US (USD): Fed Interest Rate Decision

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

CA (CAD): Canada 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 CAD, while a lower than expected reading should be taken as negative/bearish for the CAD.

The previous reading was 0.0 %, worse than the expected 0.4%. The next report is due on March 19, 2024 at 12:30 GMT. Its forecast stands at 0.6%.

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 was 5.50% , in line with the expectations. The upcoming report is due on March 20, 2024 at 18:00 GMT. Its forecast also stands at 5.50%.

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 actual data was 0.4%, worse than the forecast of 4.1% The upcoming report is due on March 20, 2024 at 07:00 GMT and its forecast figure also stands at 3.5%.

Risers and Fallers

-Russell 1000 (+0.01%)

-Meta Inc (-2.60%)

-NVIDIA Corp (+1.69%)

-Gold (-1.31%)

Russell 1000– The index demonstrated a neutral performance last week, adding nearly 0.1% in value. Overall, the Russell 1000 has shown a notable bullish trajectory over the last 1 year, accumulating almost 29% gains.

Meta Inc – The stock plunged by 2.60% in the last 5 days. However, Meta has displayed an uptick performance these past 6 months, adding over 60% in value.

NVIDIA Corp – The stock surged previous week, gaining nearly 0.63% in value. Also, the NVIDIA Corp has exhibited a positive performance during the previous 6 months, accruing nearly 99% gains.

Gold (XAUUSD) – Gold’s price declined 1.31% in the past 5 days. The commodity is now trading at 2155 USD.  

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