Durable Goods Orders m/m, Australia Consumer Price Index (QoQ), United States Gross Domestic Product Annualized, and company's earnings – another big week ahead 👀 Let's take a look!
Durable Goods Orders m/m - (Tuesday, April 26)
The US Durable Goods Orders report will be released on Tuesday, April 26th, at 12:30 GMT. The US Census Bureau's Durable Goods Orders estimate the cost of orders received by manufacturers for durable commodities such as automobiles and appliances that are expected to last three years or more. The state of the US economy has an impact on durable goods because they generally necessitate large investments. The final graph depicts the current state of production in the United States. A high USD reading, in general, indicates optimism.
Watch out for more news about EUR/USD
Australia Consumer Price Index (QoQ) – (Wednesday, April 27)
The Australia Consumer Price Index (QoQ) will be released at 01:30 GMT on Wednesday, April 27th. The Australian Bureau of Statistics republishes the RBA's Consumer Price Index, which is a measure of price changes based on a comparison of the retail prices of a representative shopping basket of goods and services. The Consumer Price Index (CPI) is a significant indicator for determining inflation and changes in purchasing patterns. A high number for the AUD is considered favorable (or bullish), whereas a low reading is considered negative (or Bearish).
The Australian Bureau of Statistics (ABS) quarterly Consumer Price Index (CPI) has a considerable impact on the market and the AUD valuation. The Reserve Bank of Australia (RBA) keeps a careful eye on the indicator in order to meet its inflation target, which has substantial monetary policy consequences. Rising consumer prices tend to be bullish for the Australian dollar, as the RBA may raise interest rates to meet its inflation objective. Almost 25 days after the quarter ends, the data is released.
Watch out for more news about AUD/USD price action
United States Gross Domestic Product Annualized – (Thursday, April 28)
The US Gross Domestic Product Annualized will be released on Thursday, April 28th, at 12:30 GMT. The Gross Domestic Product Annualized (GDP) of the United States Bureau of Economic Analysis represents the monetary value of all goods, services, and structures produced within a country over a given time period. GDP Annualized is a gross measure of market activity that indicates how quickly a country's economy grows or shrinks. A high reading or a better-than-expected number is generally regarded as positive for the USD, whereas a low reading is regarded as negative.
In the United States, the Bureau of Economic Analysis (BEA) publishes quarterly GDP growth on an annualised basis. After issuing the first estimate, the BEA revises the data twice more, with the third release indicating the final reading. A weak print is likely to weigh on the greenback. The first estimate is typically the most important market mover, and a positive surprise is regarded as a positive development for the USD. Market participants usually ignore the second and third releases because they aren't significant enough to change the growth picture significantly.
Watch out for more news about EUR/USD price action
US Core Personal Consumption Expenditures - Price Index (MoM) - (Friday, April 29)
On Friday, April 29th, at 12:30 GMT, the United States will release its Core Personal Consumption Expenditures-Price Index (MoM). The US Bureau of Economic Analysis' Core Personal Consumption Expenditures report provides a monthly average of how much people spend. To achieve an accurate measurement of spending, "Core" excludes seasonally volatile components such as food and energy. It's an important indicator of inflation. The USD is bullish when the reading is high, and bearish when the reading is low.
The Personal Consumption Expenditures (PCE) Price Index statistics, as well as monthly changes in personal spending and personal income, are published by the US Bureau of Economic Analysis shortly after the GDP report is released. The annual Core PCE Price Index, which excludes volatile food and energy expenses, is the FOMC's most important inflation indicator. A better-than-expected result could help the dollar outperform its peers because it could mean that the Fed is going to be more hawkish in the future.
Watch out for more news about EUR/USD price action
Company's Q1 earnings
Wednesday – Facebook ($FB.OQ)
Thursday – Apple ($AAPL.OQ), Amazon ($AMZN.OQ), Mastercard ($MA.N)
Friday – ExxonMobil ($XOM.N)
See all earnings this week on NAGA Calendar
That's it for this week!
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