Weekly Outlook: Key USD, GBP Events to Watch

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. Initial Jobless Claims

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 0.1% better than the expected 0.0%. The next report is due on January 11, 13:30 GMT. Its forecast stands at 0.2%.

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 came out to be -0.3%, worse than the expected 0.0%. The next report is due on January 12, 07:00 GMT. Its forecast stands at 0.2%.

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 actual data was 202K better than the forecast 216K.The upcoming report is due on January 11, 13:30 GMT and its forecast figure stands at 211K.

Risers and Fallers

-S&P100 (-1.73%)

-Johnson & Johnson (+3.26%)

-Intel Corp (-6.80%)

-Brent Oil (+1.31%)

S&P100– The index demonstrated a bearish performance last week, dropping by nearly 1.73% in value. Note that the S&P100  has shown a positive performance during the last 6 months, registering 7.52% net gains.

Johnson & Johnson – The stock climbed by nearly 3.26% in the last 5 days. The stock has shown a neutral performance these past 6 months, gaining 1.18% in value.

Intel Corp – Intel Corp’s stock displayed a negative performance previous week, shedding 6.80% in value. However, it has almost gained 60% in the previous 12 months.

Brent Oil – Brent Oil price increased by 1.19% during the last week. The commodity is now trading at 78 USD.

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