Last week was marked by increased turbulence in the stock markets, but in the US, there was some reassurance that the Federal Reserve may be able to stop increasing interest rates and potentially even cut rates later this year due to disinflationary effects stemming from banking sector troubles.
This week, there are several important economic reports being released that could have a significant impact on the markets. Keep an eye on the following events, as they could be major market movers.
Stay tuned as we highlight the top 6 economic events to watch this week 👇
Conference Board US Consumer Confidence Index – Tuesday, March 28th
📅 The Conference Board US Consumer Confidence Index will be released on Tuesday, March 28 at 17:00 (GMT+3).
📌 The Conference Board US Consumer Confidence Index is a monthly economic indicator that measures the degree of optimism consumers have about the economy's prospects.
📊 The Conference Board's CCI measures consumers' optimism in economic activity and is predicted to decrease from February's 102.9 to 101. This index is considered a leading indicator as it can forecast consumer spending, which is a significant driver of economic activity. As a result, a higher-than-anticipated reading can positively impact the stock market, while a reading lower than expectations can have a negative effect on market sentiment.
Assets potentially to be affected: $USD and $US Stocks 🇺🇸
ECB President Lagarde Speech – Tuesday, March 28th
📅 On Tuesday, March 28, ECB President Lagarde's Speech will be held at 16:15 (GMT+3).
📌 ECB President Lagarde Speech refers to a public address given by the President of the European Central Bank, Christine Lagarde, which outlines the bank's monetary policy decisions, economic outlook, and other important issues related to the eurozone economy.
📊 The upcoming speech by ECB President Lagarde could provide insight into the regulator's plans to maintain, raise, or lower the key interest rate at the next meeting. In addition, she may comment on the recent decision to raise the rate by 50 basis points, which could affect market expectations and sentiment towards the eurozone economy.
Assets potentially to be affected: $EUR and $EU Stocks 🇪🇺
United States Gross Domestic Product (GDP) q/q – Thursday, March 30th
📅 On Thursday, March 30, the US Gross Domestic Product (GDP) q/q will be released at 15:30 (GMT+3).
📌 United States Gross Domestic Product (GDP) q/q refers to a quarterly measurement of the total value of goods and services produced within the US economy, and is an important indicator of the country's overall economic health and growth rate.
📊 The Bureau of Economic Analysis (BEA) will release its final estimate of the real US GDP change for Q4 2022, which can provide insights into the financial health of the US. In addition, the report on jobless claims for the previous week will be released, which can indicate the labor market's health. These reports can impact market sentiment and investors' outlook on the economy.
Assets potentially to be affected: $USD and $US Stocks 🇺🇸
European Union Consumer Price Index (CPI) m/m – Friday, March 31st
📅 EU CPI m/m will be released on Friday, March 31, at 12:00 (GMT +3).
📌 European Union Consumer Price Index (CPI) m/m refers to a monthly indicator that measures changes in the average prices of goods and services purchased by consumers in the European Union and is used to gauge inflationary pressures in the region.
📊 A higher-than-expected reading on the CPI can indicate rising inflation, leading to higher interest rates and potentially dampening EU economic growth. Conversely, a lower-than-expected reading may suggest that inflation is not a concern, leading to lower interest rates and increased economic growth.
Assets potentially to be affected: $EUR and $EU Stocks 🇪🇺
United Kingdom Gross Domestic Product (GDP) q/q – Friday, March 31st
📅 UK Gross Domestic Product (GDP) q/q will be released on Friday, March 31, at 9:00 (GMT +3).
📌 United Kingdom Gross Domestic Product (GDP) q/q refers to a quarterly measurement of the total value of goods and services produced within the UK economy, and is a key indicator of the country's economic performance and growth rate.
📊 This critical economic indicator provides valuable insights into the overall health of the euro area's economy and can significantly impact financial markets. Whether you're a seasoned pro or just starting, tracking the UK GDP q/q release is essential for making informed trading decisions.
Assets potentially to be affected: $GBP and $UK Stocks 🇬🇧
US PCE Price Index m/m – Friday, March 31st
📅 US PCE Price Index m/m will be released on Friday, March 31, at 15:30 (GMT +3).
📌 US PCE Price Index m/m refers to a monthly economic indicator that measures changes in the prices of goods and services purchased by US consumers and is used to gauge inflationary pressures in the country. PCE stands for Personal Consumption Expenditures, a measure of consumer spending.
📊 The expectation is for a decrease to 4.4% year-on-year, down from January's 4.7%. A higher-than-expected reading could signal a potential pause in interest rate increases. At the same time, a decrease in Core PCE may boost market optimism for a more accommodative monetary policy by the Fed.
Assets potentially to be affected: $USD and $US Stocks 🇺🇸
That's it for this week! 👋
