Market News

Charting the Course: Europe Economic Outlook in Focus

Europe Economic Focus

Stay informed with our Europe Economic Outlook in Focus. Get insights on critical events and currencies’ outlook for trading.

Asian Session Recap

In China, October’s CPI and PPI readings revealed a return to disinflationary territory, with consumer and producer inflation contracting due to weak retail spending and an unexpected decline in manufacturing activity. This contraction was driven by worsening economic conditions in China’s major export destinations, leading to a sharper export decline than anticipated.

The global demand weakened further as China’s exports dwindled, causing crude oil prices to reverse their early gains. WTI oil dropped from $76.00 per barrel to around $75.40, and analysts anticipate continued pressure on oil prices.

Implications for Europe & US Sessions

Unemployment claims in the US have been trending higher in recent weeks, surpassing estimates, which typically acts as a bearish catalyst for the US dollar. After an overnight speech offering a few clues, During his panel discussion titled “Monetary Challenges in a Global Economy” in Washington, DC, we anticipate Federal Reserve Chair Jerome Powell will provide more insights into the monetary policy outlook. Any hints of a hawkish stance could influence market sentiment.

Charting the Course – Europe Economic Outlook in Focus

Dollar Index (DXY)

  • Unemployment Claims (1:30 pm GMT)
  • Fed Chair Powell Speaks (7:00 pm GMT)
  • Expectation: Medium Bearish

Gold (XAU)

  • Unemployment Claims (1:30 pm GMT)
  • Fed Chair Powell Speaks (7:00 pm GMT)
  • Expectation: Weak Bullish

Australian Dollar (AUD)

  • No major news events
  • Expectation: Weak Bullish

New Zealand Dollar (NZD)

  • No major news events
  • Expectation: Weak Bullish

Japanese Yen (JPY)

  • No major news events
  • Expectation: Weak Bullish

Euro (EUR)

  • ECB President Lagarde Speaks (5:30 pm GMT)
  • Expectation: Medium Bullish

Swiss Franc (CHF)

  • No major news events
  • Expectation: Weak Bullish

British Pound (GBP)

  • No major news events
  • Expectation: Weak Bullish

Canadian Dollar (CAD)

  • No major news events
  • Expectation: Weak Bearish

Oil

  • No major news events
  • Expectation: Medium Bearish

Stay Updated with the Latest Market News. Visit our YouTube Channel for the Latest Forex Analysis.

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Our Newsletter

Subscribe to ForexPropNews Trading Newsletters

Receive the best-curated content by our editors for the week ahead.

Mini Charts

Related Articles

Asian Stock Plunge as Nikkei Leads with 3% Drop

Asian markets fell sharply, led by Japan's Nikkei, which dropped 3.14%. U.S....

Asia-Pacific Markets Dip on Tech Earnings and Economic Data

Asian markets fell as U.S. tech earnings disappointed. The Nikkei dropped 1.27%,...

Asian Stock Diverge as Wall Street Sees Strong Rebound

Asia-Pacific markets were mixed as Wall Street rebounded. Taiwan's Taiex surged 2.4%,...

Dollar Steady; Gold and Oil Prices Face Challenges: Market Focus

Quiet start to the week with no major news. DXY steadying around...

Featured educational content

EXPLORE MORE

Featured educational content

New to Forex? Learn to Read Charts Like a Pro

Dive into forex trading basics: chart reading, candlesticks, technical indicators, timeframes, currency pairs. Start your journey to trading success today!

Video: How I Re-Programmed My Mind to be a Consistent Trader (Thanks to The Wolf of Wall Street)

How I Re-Programmed My Mind to be a Killer Trader (Thanks to The Wolf of Wall Street)

Video: This Invisible Trading Indicator Tells you What Day Trade (Not Just Price)

This Invisible Trading Indicator Tells you WHEN to Trade (Not Just Where)

Technical Analysis: Chart Patterns and Indicators for Profitable Investments

Navigate stocks with confidence using chart patterns like Head and Shoulders, indicators such as MACD, and tools like trendlines. Master technical analysis for...

Latest News

Asian Stock Plummet as Nikkei Leads with 3% Drop
Market News

Asian Stock Plunge as Nikkei Leads with 3% Drop

Asian markets fell sharply, led by Japan's Nikkei, which dropped 3.14%. U.S. tech stocks also suffered significant declines.

Asia-Pacific Markets Dip on Tech Earnings and Economic Data
Market News

Asia-Pacific Markets Dip on Tech Earnings and Economic Data

Asian markets fell as U.S. tech earnings disappointed. The Nikkei dropped 1.27%, Hang Seng down 0.83%, and EV stocks fell.

Copyright © 2023 Forex Prop News. All Rights Reserved.