WEEKLY ECONOMIC CALENDAR AHEAD
Here is what you need to know about the important news between August 21st, 2023, and August 25th, 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
The index continues to correct lower following last week’s fresh monthly peaks near 103.70 (August 18) amidst the generalized improvement in the risk-associated universe.
The dollar, in the meantime, seems to have met an initial decent resistance near 103.70 against the backdrop of the relentless march north in US yields across the curve as well as increasing speculation that the Federal Reserve might keep the tighter-for-longer stance for an extended period.
Gold
A comparison of Gold with the G10 average (excluding USD, EUR) reveals that Gold has not performed poorly at all. This only seems to be the case because the US Dollar, but also the Euro to some extent, have gained against this average during this period. And because nearly everybody is looking at XAU/USD or (in case of our European readers) XAU/EUR.
Oil.
Prices of WTI extended the rebound during the second half of last week amidst shrinking open interest, which hints at the idea that further rebound might not be favoured in the very near term. In the meantime, occasional bullish attempts remain limited around the 2023 highs near the $85.00 mark per barrel.
Economic calendar most important releases – All times are GMT.
Tuesday, August 22, 2023
10:00 USD Existing Home Sales (Jul)
Wednesday, August 23, 2023
08:00 USD Building Permits
09:45 USD S&P Global US Services PMI (Aug)
10:00 USD New Home Sales (Jul)
10:30 USD Crude Oil Inventories
Thursday, August 24, 2023
08:30 USD Core Durable Goods Orders (MoM) (Jul)
08:30 USD Initial Jobless Claims
Friday, August 25, 2023
10:05 USD Fed Chair Powell Speaks
Thanks for reading! Have a great week!
Important Note: The information found on Ausprime platform is intended only to be informative, is not advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not include any specific investment objectives, financial situation and needs of any specific person who may receive it. The past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statement.