Significant events to watch:

-US (USD): U.S. Initial Jobless Claims

-DE (EUR): Germany Retail Sales MoM

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

US (USD): U.S. Initial Jobless Claims – Initial Jobless Claims measures the number of individuals who filed for unemployment insurance for the first time during the past week. This is the earliest U.S. economic data, but the market impact varies from week to week.

A higher than expected reading should be taken as negative/bearish for the USD, while a lower than expected reading should be taken as positive/bullish for the USD.

The previous reading was 210K better than the expected 212K. The next report is due on March 28, 2024 at 12:30 GMT. Its forecast stands at 214K.

DE (EUR): Germany Retail Sales MoM – German Retail Sales measures the change in the total value of inflation-adjusted sales at the retail level, excluding automobiles and gas stations. It is the primary indicator of consumer spending, which accounts for the majority of economic activity.

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 reading was -0.4% worse than the expected 0.5%. The upcoming report is due on March 28, 2024 at 07:00 GMT. Its forecast also stands at 0.4%.

UK (GBP): U.K. Gross Domestic Product (GDP) QoQ – 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 actual data was -0.3%, worse than the forecast of -0.1% The upcoming report is due on March 28, 2024 at 07:00 GMT and its forecast figure also stands at -0.3%.

Risers and Fallers

-DAX Index (+1.5%)

-AMD Inc. (-7.07%)

-Microsoft Corp (+3.48%)

-Crude Oil (-1.31%)

DAX Index – The index demonstrated a positive performance last week, adding nearly 1.5% in value. Overall, the DAX has shown a notable bullish trajectory over the last 1 year, accumulating almost 21.7% gains.

Advanced Micro Devices, Inc – The stock plunged by 7.07% in the last 5 days. However, AMD has displayed an uptick performance these past 6 months, adding over 84% in value.

Microsoft Corp – The stock surged previous week, gaining nearly 3.48% in value. Also, the Microsoft Corp has exhibited a positive performance during the last one year, accruing nearly 52% gains.

Crude Oil (WTI)– Crude oil’s price declined -0.51% in the past 5 days. The commodity is now trading at 80.81.  

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