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.  

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