The US Bureau of Labor Statistics will release its Consumer Price Index and many other critical events that will move the market this week!
Big Event for EUR: ZEW Economic Sentiment
What will happen?
Euro Zone will reveal the ZEW Economic Sentiment index at 12:00 MT (GMT+2) on Tuesday, November 9. The indicator shows the view of investors and analysts on the 6-month economic outlook for the Eurozone. The survey is historically focused on the German economy as Germany tends to lead the Eurozone economy, so pay close attention to the German Economic Sentiment which is released at the same time.
Why is it important?
Last time, the EU ZEW Economic Sentiment came out worse than expected. As a result, EUR/USD dropped by 360 points after the release.
How to trade on ZEW Economic Sentiment?
It’s easy! Compare the actual data with the forecast in the economic calendar.
- If the indicator is greater than the forecasts, the EUR will rise.
- Alternatively, the EUR will drop.
Instruments to trade: EUR/USD, EUR/GBP, EUR/JPY, and other pairs with the EUR.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.
2022 was rough: inflation, energy crisis, and plenty of other controversial situations…