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The American Durable Goods orders will be announced at 15:30 MT time on December 23.
Durable Goods Orders indicator refers to the percentage change in the number of new orders placed to the US manufacturers of hard goods during the examined month as compared to the previous month. A positive indicator means that there have been more goods ordered than in the previous period. That, in turn, would mean better economic outlook and consumption as projected by the industry participants for the coming three years. The recent dynamic for this indicator has been controversial: October orders were 0.6% higher than September, while the latter showed a 1.4% drop compared to the August figure. If the November figure is positive and exceeds market expectations, the USD will gain strength.
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.
On the H4 timeframe, the US dollar index has formed a bullish falling wedge. At the beginning of the trading session, the price is testing the upper border of this wedge. Thus, in case of a higher-than-expected Core PCE Price Index m/m, the US dollar will skyrocket against other currencies.
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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…
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