Key News Events To Watch This Week

Significant events to watch:

-EU (EUR): Eurozone Consumer Price Index (CPI) YoY

-US (USD): Fed Interest Rate Decision

-US (USD): U.S. Nonfarm Payrolls

EU (EUR): Eurozone 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 EUR, while a lower than expected reading should be taken as negative/bearish for the EUR.

The previous reading was 2.4%, same as expected. The upcoming report is due on April 30, 2024 at 09:00 GMT. Its forecast also stands at 2.4%.

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 reading was 5.50% same as forecast. The next report is due on May 01, 2024 at 18:00 GMT. Its forecast also stands at 5.50%.

US (USD): U.S. Nonfarm Payrolls – Nonfarm Payrolls measures the change in the number of people employed during the previous month, excluding the farming industry. Job creation is the foremost 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 USD, while a lower than expected reading should be taken as negative/bearish for the USD.

The previous actual data was 303K more than the forecast of 212K. The upcoming report is due on May 03, 2024 at 12:30 GMT and its forecast figure stands at 243K.

Risers and Fallers

-S&P 500 (+2.26%)

-AMD Inc (+6.30%)

-Intel Corp (-7.16%)

-Spot Gold (+0.45%)

S&P 500 – The index demonstrated a positive performance last week, adding nearly 2.26% in value. Overall, the S&P 500 has shown a notable bullish trajectory over the last 6 months, accumulating almost 22% gains.

AMD Inc – The stock surged by 6.30% in the last 5 days. Moreover, the company has displayed a remarkable performance over the last 12 months, gaining around 75% in value.

Intel Corp – The stock plunged previous week, shedding nearly 7.16% in value. Intel Corp has also exhibited a bearish performance during the last 6 months, losing almost 10.63%.

Spot Gold– XAUUSD price increased by 0.45% in the past 5 days. The commodity is now trading at 2336 USD.

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