Top 5 Economic Events of This Week | January 9 – 13 - 2023

Welcome to the top 5 economic events to watch for traders for the week of January 9-13!

It's a new year and there are several important events on the calendar that have the potential to move financial markets. Here's a preview of the events to keep an eye on:

💰 Federal Reserve Chair Jerome Powell's speech. 

💰 US Consumer Price Index (CPI).

💰 UK Gross Domestic Product (GDP).

💰 US Retail Sales data.

Don't miss out on these and more key events! Be sure to read our review of the week's economic events for a detailed analysis of how these events may impact financial markets 🔻

Fed Chair Powell's Speech – Tuesday, January 10th

📅 Fed Chair Powell's Speech will be held on Tuesday, January 10 at 16:00 (GMT +2).

📌 The Fed Chair Speech is a public address given by Jerome Powell, the current Chair of the US Federal Reserve (also known as the "Fed"). In these speeches, Powell typically discusses the current state of the US economy, monetary policy, and other relevant topics.

📊 Powell's Speech can potentially affect financial assets and markets in a number of ways. For example, if Powell indicates that the Fed is considering raising or lowering interest rates, this could affect the value of financial assets such as stocks, bonds, and currencies. Similarly, if Powell provides insight into the Fed's outlook on the economy or its plans for future monetary policy, this information could also impact financial markets.

Asset(s) likely to be affected: $USD and $US Stocks 🇺🇸

US CPI (Consumer Price Index) – Thursday, January 12th

📅 US CPI (Consumer Price Index) will be released on Thursday, January 12 at 15:30 (GMT +2).

📌 The US CPI (Consumer Price Index) is a measure of the average change over time in the prices paid by urban consumers for a basket of goods and services. The CPI is calculated by the US Bureau of Labor Statistics (BLS) and is released on a monthly basis.

📊 The US CPI can affect financial assets and markets in a number of ways. For example, the CPI can influence the decisions of the Federal Reserve with regard to monetary policy, as the central bank often uses changes in the CPI as one of the factors in its decision-making process.

Asset(s) likely to be affected: $USD and $US Stocks 🇺🇸

US Unemployment Claims – Friday, January 13th

📅 On Friday, January 13, the US Unemployment Claims will be released at 15:30 (GMT+2).

📌 The US Unemployment Claims, also known as Initial Jobless Claims, is a weekly report released by the US Department of Labor that measures the number of individuals who have filed for unemployment insurance for the first time. This report is seen as a gauge of the health of the labor market and the overall economy, as a rising trend in unemployment claims can indicate a weakening job market and a slowing economy.

📊 A sudden and unexpected increase in unemployment claims could lead to a decline in stock prices and an increase in bond prices, as investors may perceive a deteriorating economic outlook and seek safe haven assets. Conversely, a surprising decline in unemployment claims could lead to an increase in stock prices and a decrease in bond prices. In addition, changes in unemployment claims can also impact the value of the US Dollar, as the currency may be seen as either more or less attractive to investors based on the perceived strength of the US labor market.

Asset(s) likely to be affected: $USD and $US Stocks 🇺🇸

GDP (Gross Domestic Product) UK – Friday, January 13th

📅 On Friday, January 13, UK’s GDP (Gross Domestic Product) will be released at 09:00 (GMT+2).

📌 GDP is a measure of the total economic output of the United Kingdom. It represents the value of all goods and services produced within the country in a given period of time, typically on a quarterly or annual basis.

📊 If the GDP grows at a faster-than-expected rate, it could lead to an increase in stock prices and a decrease in bond prices, as investors may perceive an improving economic outlook and shift out of safe haven assets. Conversely, if the GDP grows at a slower-than-expected rate, it could lead to a decline in stock prices and an increase in bond prices, as investors may perceive a deteriorating economic outlook and seek safe haven assets. In addition, the GDP can also impact the value of the British Pound, as the currency may be seen as either more or less attractive to investors based on the perceived strength of the UK economy.

Asset(s) likely to be affected: $GBP and $FTSE100 🇬🇧

US Prelim Consumer Sentiment – Friday, January 13th

📅 US Prelim Consumer Sentiment will be released on Friday, January 13 at 17:00 (GMT +2). 

📌 US Prelim Consumer Sentiment, also known as the University of Michigan Consumer Sentiment Index, is a monthly survey of consumer attitudes and expectations about the economy and personal finances.

📊 If the index shows an improvement in consumer sentiment, it could lead to an increase in stock prices, as investors may perceive an improving economic outlook and increased consumer spending. Conversely, if the index shows a decline in consumer sentiment, it could lead to a decline in stock prices, as investors may perceive a deteriorating economic outlook and reduced consumer spending. In addition, changes in consumer sentiment can also impact the value of the US dollar, as the currency may be seen as either more or less attractive to investors based on the perceived strength of the US economy.

Asset(s) likely to be affected: $USD and $US Stocks 🇺🇸

That's it for this week! 👋