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.
US Economy is on the Shaky Grounds
What will happen?
The United States will publish the Advance GDP on January 27, at 15:30 GMT+2. This is an annualized change in the inflation-adjusted value of all goods and services produced in the economy.
Why is it important?
It's not a secret that GDP is one of the most important measures of a country's economic activity. Being calculated as a change in the value of all goods and services produced by the economy, it serves as an indicator of economic health. The US economy grew by an annualized 2.3% in Q3 2021. However, the initial data that was published on October 28 showed an increase only by 2% (vs. the forecast of 2.6%). As a result, the US dollar fell.
How to trade on the US Advance GDP?
Compare the actual figures with the forecasts in the economic calendar.
- If the actual figures are higher than the forecast, the USD will strengthen;
- If the actual figures are lower than the forecast, the USD will weaken.
Instruments to trade: EUR/USD, GBP/USD, USD/JPY
2022 was rough: inflation, energy crisis, and plenty of other controversial situations…
The US dollar index keeps rounding above the 103.60 historical support level. The buyers have already defended this level for three weeks, highlighting their interest in the greenback. Thus, buying USD looks less risky right now.
The Reserve Bank of Australia (RBA) will make a statement and release a Cash Rate on February 7, 05:30 GMT+2. It's among the primary tools the RBA uses to communicate with investors about monetary policy.
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
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.