Waiting For Important News From Overseas. Forecasts For US Indices
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From Tuesday, the market will follow the information from the USA. Traders will handle such information carefully as it provides a lot of information about the condition of the economy and the importance of the currency. The dollar, as a strong currency, is in particular in the center of interest and thus the events that may significantly affect it.
First data from overseas
The US will provide the first information on the changes in the price of goods and services, excluding food and energy. In the period from January to May, the indicator usually reached the level of 0.6%. Only in March, he slept to the level of 0.3%. In June, it reached the most important level of 0.7%. U.S. The Core Consumer Price Index recently reached 0.3% and is expected to hold in August as well.
Source: investing.com
CPI idnex
Official data on the change in the price of goods and services appears on Tuesday.
Official data on the change in the price of goods and services appears on Tuesday. U.S. Consumer Price Index (CPI) MoM
the highest level in June was 1.2%. In July, the indicator dropped to 0%, it is forecasted that in August there will be another decrease to the level of -0.1%
Source: investing.com
The Consumer Price Index YoY is also expected to decline to 8.1% from 8.5%. Like the previous index, the highest level was reached in June (9.1%).
Source: investing.com
On Wednesday, at the very beginning, the USA publishes the data about the change in the price of goods sold by manufacturers. In June, the PPI reached the level of 1.1%, it was a significant increase from the level of 0.8% in May. After this increase, it was forecast to fall to 1.0% in July, but as the data shows, the indicator fell even lower to below zero (-0.5%). It is expected that in August the PPI index will be at -0.1%.
Source: investing.com
How forecast for crude oil look like
Another important piece of information released on that day will be the weekly change in the number of barrels of commercial crude oil held by US firms. The reading for the past week was at 844K. There are no forecasts for the next period, but If the increase in crude inventories is more than expected, it implies weaker demand and is bearish for crude prices. The same can be said about a decline
Source: investing.com
Thursday’s informations
As every week, on Thursday the US will provide the number of people who apply for unemployment insurance. Last week's reading was 222K, lower than the previous one (228K) and lower than forecast (240K). The next reading is expected to be slightly higher at 225K.
Source: investing.com
The relative level of general business conditions in Philadelphia will also be released on Thursday.
A recent reading showed that business conditions in Philadelphia had improved significantly. The index was above zero (6.2%) and was higher than forecast (-5.0%). Readings since June have been at a negative level, so if the added reading is above zero, it may mean an improvement in conditions. Porognosis is that the indicator will reach level 3.5.
Source: investing.com
Retail sales results will be released on Thursday. The last reading showed a decline and was at 0%. It was a significant drop after an earlier increase to 1.0% in June. Sales are expected to reach 0.2% in August. The retail situation may resemble a sine wave.
Source: investing.com
Source: https://www.investing.com/economic-calendar/
