Major News Releases To Watch This Week

Significant events to watch:

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

– JPY (JPY): BoJ Interest Rate Decision

– US (USD): U.S. Core PCE Price Index MoM

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 212K better than the expected 215K. The upcoming report is due on April 25, 2024 at 12:30 GMT. Its forecast stands at 215K.

JPY (JPY): BoJ Interest Rate Decision

Bank of Japan (BOJ) policy board members come to a consensus 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 JPY, while a lower than expected rate is negative/bearish for the JPY.

The previous reading was 0.10%, same as expected. The next report is due on April 25, 2024 at 03:00 GMT. Its forecast stands at 0.10%.

US (USD): U.S. Core PCE Price Index MoM

The Core Personal Consumption Expenditure (PCE) Price Index measures the changes in the price of goods and services purchased by consumers for the purpose of consumption, excluding food and energy. Prices are weighted according to total expenditure per item. It measures price change 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 actual data was 0.3%, similar to the forecast. The upcoming report is due on April 26, 2024 at 12:30 GMT and its forecast figure also stands at 0.3%.  

Risers and Fallers

– Dow Jones (-0.23%)

– Coca-Cola Co (+2.77%)

– BlackRock Inc (-2.47%)

– Crude Oil (-2.94%)

Dow Jones – The index demonstrated a slightly negative performance last week, shedding nearly 0.23% in value. Overall, the US30 has shown a notable bullish trajectory over the last 6 months, accumulating almost 15% gains.

Coca-Cola Co – The stock surged by 2.77% in the last 5 days. However, the company has displayed a negative performance over the last 12 months, losing around 6% in value.

BlackRock Inc – The stock plunged previous week, shedding nearly 2.47% in value. However, Apple has exhibited a bullish performance during the last 6 months, gaining almost 22%.

Crude Oil – Oil’s price dropped almost 3% in the past 5 days. The commodity is now trading at 81.45 USD.

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