Weekly Outlook: Major News Events to Watch

Significant events to watch:

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

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

-US (USD): Fed Interest Rate Decision

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 3.2% worse than the expected 3.3%. The next report is due on December 12, 13:30 GMT. Its forecast stands at 3.1%.

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 -0.2%, better than the expected 0.0%. The next report is due on December 13, 07:00 GMT. Its forecast stands at -0.1%.

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 actual data was in line with the forecast 5.50%.The upcoming report is due on December 13, 18:00 GMT and its forecast figure also stands at 5.50%.

Risers and Fallers

-FTSE 100 (+0.33%)

-Meta (+4.89%)

-Johnson & Johnson (-2.15%)

-Gold (-3.26%)

FTSE 100– The index demonstrated a tepid performance last week, surging by 0.33% in value. Note that the FTSE 100 has depreciated almost 0.21% in the previous 6 months.

Meta – Meta’s stock climbed by nearly 4.89% in the last 5 days. The stock has shown a remarkably positive performance this year, registering over 166% gains till date.

Johnson & Johnson – The stock displayed a negative performance previous week, shedding 2.15% in value. It has descended by almost 13% year-to-date.

Gold – XAUUSD price depreciated by 3.26% during the previous week. The commodity touched 2,135 level before depreciating to 1994 at the week’s end. Currently, the pair is trading at 2003 USD.

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