This week a lot of important economic statistics are expected from the US | IFCM
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This week a lot of important economic statistics are expected from the US

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Last week the US stock prices increased, while the US dollar index fell. On Monday, no economic data came out in the US. The stock indices and the exchange rate of the dollar decreased on the background of investors’ concern regarding the first steps of Donald Trump as the US President and the realization of his pre-election slogan “America first”. Particularly, Trump announced about the US leave from the Trans-Pacific Partnership and the revision of principles of the North American Free Trade Agreement. The Apple’s lawsuit against chip supplier Qualcomm had a negative impact on the stock market dynamics.

On Tuesday, the US existing home sales report came out. It was relatively weak. However, investors ignored it concentrating on Donald Trump’s announcement. He resumed the construction of the two oil pipelines from Canada to the US - Dakota Access Pipeline and Keystone XL. The construction had been previously blocked because of environmental issues. Market participants positively accepted this news, which resulted in the growth of prices in the US stock and currency markets. On Wednesday, the dollar index fell, while the stock indices continued rising. No significant economic data were released. According to the consensus-forecast, investors expect the growth of total profits of the companies included in S&P500 by 6.8% in Q4, 2016. This is the biggest increase in the last 2 years. 104 companies from the S&P500 list have already published their reports, out of which 70% exceeded the analysts’ preliminary forecasts. For the first time the Dow Jones Industrial Average exceeded the psychological level of 20000.

On Thursday, the US stock prices growth continued alongside with the dollar index, which also managed to increase a bit. This happened on the background of weak economic statistics. The US new home sales for December dropped to the 10-month low. Besides, weekly unemployment rate slightly rose.

On Friday, the dollar prices remained almost unchanged. The stock indices slightly fell. Investors accepted the weak economic data rather calmly. The US GDP in the Q4, 2016 increased only by 1.9%, which is worse than the expected growth by 2.2%. According to the results of the whole last year, the US economy advanced 1.6%, which is the lowest growth since 2011. This week more economic news will come out in the US. The attention of market participants is focused on the next Fed meeting minutes, which will take place on Wednesday. No rate changes are expected. However, the US regulator may clarify its further plans on changes of the monetary policy and represent an overview of trends in the US economy. On Friday, the US labor market overview for January and the Non-farm Payrolls will be published. Besides, the consumer confidence index again for January will come out on Tuesday, and the ISM manufacturing PMI will be published on Wednesday.

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