Menu
Brokers
MT4 Forex Brokers
MT5 Forex brokers
PayPal Brokers
Skrill Brokers
Oil Trading Brokers
Gold Trading Brokers
Web Browser Platform
Brokers with CFD Trading
ECN Brokers
Bitcoin FX Brokers
PAMM Forex Brokers
With Cent Accounts
With High Leverage
Cryptocurrency Brokers
Forums
All threads
New threads
New posts
Trending
Search forums
What's new
New threads
New posts
Latest activity
Log in
Register
Search
Search titles only
By:
Search titles only
By:
Menu
Install the app
Install
Reply to thread
Forums
Forex Discussions
Forex News
Daily News Updates by LQDFX
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Message
[QUOTE="Daniel LQDFX, post: 230092, member: 107699"] [HEADING=2][Center][Heading=1][B]Daily News Update[/B][/Heading][/Center][/HEADING] [HEADING=2] [Right]28 February 2024[/Right][/HEADING] [Right]Wednesday[/Right] [Heading=2]This Wednesday, the financial calendar is marked by significant announcements from three major economies. Australia is set to unveil its year-over-year Consumer Price Index (CPI), a key indicator of inflationary pressures within the economy. In parallel, New Zealand will disclose its Official Cash Rate, a critical decision that will provide insights into the central bank's monetary policy stance. Meanwhile, the United States will release its preliminary quarterly Gross Domestic Product (GDP) figures, offering a snapshot of economic growth and health. These releases are poised to capture the attention of investors and policymakers worldwide, given their potential implications for global financial markets.[/Heading] [B][U][Center]AUD – CPI y/y[/Center][/U][/B] This measure tracks the monthly change in consumer prices for goods and services, a key indicator of inflation that significantly influences overall economic conditions. Released approximately 25 days following the end of each month, it reflects the average price changes of a diverse set of products and services when compared to their previous assessments. Given inflation's critical role in currency valuation, increases in consumer prices prompt central banks to adjust interest rates in line with their mandate to manage inflation. The monthly Consumer Price Index (CPI) indicator in Australia had increased by 3.4% in the year to December 2023, down from 4.3% in November and below market forecasts of 3.7%. It marked the third consecutive month of moderation in annual inflation, with the latest reading being the lowest since November 2021, amid a slowdown in food prices (4.0% vs 4.6% in November) and housing (5.2% vs 6.6%), particularly electricity, gas, and other household fuels. Additionally, the cost had slowed for health (4.7% vs 5.2%), while transport inflation remained steady (at 3.6%) amid faster rises in automotive fuel. At the same time, prices had fallen for recreation and culture (-2.4% vs 1.2%), furnishings, household equipment & services (-0.3% vs -0.3%), and clothing and footwear (-0.8% vs -0.9%). The monthly CPI indicator, excluding volatile items and travel, had risen by 4.2% in December, down from a 4.8% gain in November. Inflation was outside the RBA's target range of 2-3%. [B]TL;DR[/B] [ATTACH type="full"]27517[/ATTACH] The forecast for the [B]CPI y/y[/B] suggests a modest rise to [B]3.5%[/B] from the earlier figure of [B]3.4%[/B]. The upcoming announcement for the [B]CPI y/y[/B] is set to be released at [B]12:30 AM GMT on Wednesday the 28th.[/B] The last time, [B]Australian CPI y/y[/B] was announced on the 31st of January, 2024. You may find the market reaction chart [B](AUDNZD M5)[/B] below: [ATTACH type="full"]27518[/ATTACH] [B][U][Center]NZD - Official Cash Rate[/Center][/U][/B] This measure reflects the interest rate at which banks lend balances maintained at the Reserve Bank of New Zealand (RBNZ) to other banks overnight, with decisions on the rate made seven times annually. Although the rate decision often gets anticipated by the market, its significance is generally eclipsed by the RBNZ Rate Statement, which offers insights into future monetary policy. Short-term interest rates are crucial for currency valuation, with traders primarily analyzing various indicators to forecast potential rate adjustments. The RBNZ Governor, in consultation with senior bank staff and external advisors, determines the setting of this rate. During its November meeting, the Reserve Bank of New Zealand had kept its official cash rate (OCR) unchanged at 5.5%, maintaining the rate pause for the fourth consecutive meeting and aligning with market expectations. The board had remained confident that the prevailing OCR level was restrictive enough to curb demand. Despite this, concerns were raised over persistent excess demand and cost pressures amidst high core inflation. The committee had concurred that interest rates would need to remain at a restrictive level for an extended period to return inflation to the target range of 1 to 3% and to support sustainable employment. While predicting a peak cash rate of 5.7%, policymakers had indicated the need to await further data to gauge the pace and magnitude of the reduction in domestic capacity pressures. The RBNZ had acknowledged a slowdown in parts of the economy, yet noted a smaller decline in total demand growth than had been anticipated earlier in the year. Meanwhile, members had considered that monetary policy was conducive to sustaining house prices. [B]TL;DR[/B] [ATTACH type="full"]27519[/ATTACH] The projection for the [B]Official Cash Rate[/B] suggests it will hold steady, matching the prior rate of [B]5.5%[/B]. The decision on the [B]Official Cash Rate[/B] is scheduled to be announced at [B]1:00 AM GMT on Wednesday the 28th.[/B] The last time, the [B]New Zealand Official Cash Rate[/B] was announced on the 29th of November, 2023. You may find the market reaction chart [B](NZDJPY M5)[/B] below: [ATTACH type="full"]27520[/ATTACH] [B][U][Center]USD - Prelim GDP q/q[/Center][/U][/B] This indicator represents the annualized change in the total value of all goods and services produced by the economy, disclosed quarterly approximately 60 days following the quarter's conclusion. Although the data is quarter-over-quarter, it is presented in an annualized format by multiplying the quarterly change by four. The 'Previous' value corresponds to the 'Actual' figure from the Advance release, leading to seemingly disconnected 'History' data. The GDP data is released in three stages—Advance, Preliminary, and Final—spaced a month apart, with the Advance release typically having the greatest market impact. As the most comprehensive measure of economic activity, it serves as the primary indicator of the economy's health and is also referred to as the GDP Second Release. In the fourth quarter of 2023, the United States economy experienced a robust expansion, with an annualized growth rate of 3.3%, significantly surpassing the anticipated 2% increase and following a 4.9% growth in the third quarter, as per the advance estimate. Despite a deceleration in consumer spending to 2.8% from 3.1% in the previous quarter, with a notable slowdown in goods consumption to 3.8% from 4.9%, the services sector saw a marginal uptick in growth to 2.4% from 2.2%, propelled by enhanced activity in food services, accommodations, and healthcare. The contribution of private inventories to the overall growth diminished to 0.07 percentage points, down from 1.27 percentage points in the third quarter, while government expenditure grew at a reduced rate of 3.3% compared to 5.8% previously. In contrast, exports experienced an acceleration to 6.3% from 5.4%, and the increase in imports moderated to 1.9% from 4.2%. Delving deeper, non-residential investment witnessed a more substantial rise of 1.9% versus 1.4%, buoyed by a rebound in equipment investment to 1% from a previous decline of 4.4%, and an advancement in intellectual property products investment to 2.1% from 1.8%, although investment in structures saw a tempering to 3.2% from 11.2%. Meanwhile, residential investment maintained its growth trajectory, albeit at a diminished pace. For the entirety of 2023, the US economy expanded by 2.5%, a slight improvement over the 1.9% growth observed in 2022 and marginally below the Federal Reserve's forecast of 2.6%. [B]TL;DR[/B] [ATTACH type="full"]27521[/ATTACH] The preliminary forecast for the [B]Preliminary GDP q/q[/B] is projected at [B]3.3%[/B]. The upcoming [B]Preliminary GDP q/q[/B] is scheduled for release at [B]1:30 PM GMT on Wednesday the 28th.[/B] The last time, the US Preliminary GDP q/q was announced on the 29th of November, 2023. You may find the market reaction chart [B](USDJPY M5)[/B] below: [ATTACH type="full"]27522[/ATTACH] [HR][/HR] [I]Disclaimer: The market news provided herein is for informational purposes only and should not be considered trading advice.[/I] [/QUOTE]
Insert quotes…
Verification
Post reply
Top
Bottom
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
Accept
Learn more…