Here is what you need to know about the important news between August 14th 2023 and August 18th 2023, where we take a look at the economic data, market news and headlines likely to have the biggest impact on the market prices this week and beyond, as well as the US Dollar, and other key correlated assets.
U.S. dollar index
US Dollar Index (DXY) remains on the front foot around 102.90 as it renews the five-week high amid the early hours of Monday’s Asian session. In doing so, the Greenback’s gauge versus the six major currencies cheers the looming economic fears surrounding China, as well as the recently positive US data. However, the cautious mood ahead of this week’s top-tier US data and Minutes of the latest Federal Open Market Committee (FOMC) monetary policy meeting prods the DXY buyers of late.
Gold
Gold Price (XAU/USD) keeps bears on the driver’s seat at the monthly low, after witnessing a four-week downtrend, as headlines from China roil market sentiment and underpin the US Dollar’s haven demand. Adding strength to the risk-off mood are the geopolitical concerns about Russia and the firmer US Treasury bond yields, which in turn allows the US Dollar Index (DXY) to remain firmer after rising in the last four consecutive weeks despite looming policy pivot at the Federal Reserve (Fed).
Oil.
In its monthly oil market report, the International Energy Agency (IEA) lowers the 2024 global oil demand growth forecast to 1 million barrels per day (bpd), down 150,000 bpd from the previous forecast.
Economic calendar most important releases – All times are GMT.
Monday, August 14, 2023
19:50 JPY GDP (QoQ) (Q2)
Tuesday, August 15, 2023
08:30 USD Core Retail Sales (MoM) (Jul)
08:30 USD Retail Sales (MoM) (Jul)
22:00 NZD RBNZ Interest Rate Decision
Wednesday, August 16, 2023
02:00 GBP CPI (YoY) (Jul)
08:30 USD Building Permits (Jul)
10:30 USD Crude Oil Inventories
14:00 USD FOMC Meeting Minutes
Thursday, August 17, 2023
08:30 USD Initial Jobless Claims
08:30 USD Philadelphia Fed Manufacturing Index (Aug)
Friday, August 18, 2023
05:00 EUR CPI (YoY) (Jul)
Thanks for reading! Have a great week! 
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