Market Eager to Know about the US CPI Data for January

The market is curious to know about the Consumer Price Index data of the US for January 2023, as it will turn out to be a key indicator that measures the rate of price rise in the economy. Henceforth, investors, market analysts, traders and observers will be closely watching the release of the CPI that will be made today at 13:30 GMT by the Bureau of Labor Statistics. Furthermore, market participants who are also associated with the prices sector of the market are also highly recommended to make a note of the changes in the indicator, as it will be making the market volatile.

Top economists have anticipated it to be 0.3%. Meanwhile, when it was released on 12th Jan 2023 at 13:30 GMT, the indicator stood at -0.1%. So, if there is an increase in the readings, it would be considered bullish for the USD and a decrease in the indicator as bearish.

Japan Announced its Industrial Production

The Ministry of Economy, Trade and Industry of Japan revealed its Industrial Production today at 04:30 GMT and were found to be 0.3% in place of the predicted -0.1%. Since there is a rise in the indicator, it will have a favourable impact on yen quotes. Henceforth, the market participants who are trading in Japanese currency will be advised to make a note of the changes in the readings of such indicators and their consequences, as it will be impacting the value of yen quotes.

Claimant Count Change was Disclosed by the UK

The Office for National Statistics has published the Claimant Count Change of the UK today at 07:00 GMT. As the indicator will be influencing the values of the GBP quotes, market participants who are trading in the currency and are related to the labour sector of the market are advised to keep a note of the changes in the readings of the indicator. When it was released, the Claimant Count Change stood at -12.9 K, which was the expected figure by top economists. The publication of the indicator that indicates the change in the number of individuals claiming unemployment benefits is deemed as high-importance economic news, as the rise in the indicator will have an unfavourable impact on the currency.

The Eurozone to Release its GDP

Eurostat will be disclosing the latest GDP of the Eurozone today at 10:00 GMT and is forecasted to be 0.1% by financial experts. The release of the Eurozone GDP is considered high-importance news coming from the GDP sector of the market. If there is a hike in the GDP, it will have a positive impact on euro quotes. Therefore, market participants who are trading in the currency are recommended to be vigilant during the release. Furthermore, the standard of living and the rate of economic growth could be analysed with the release of the indicator.

Employment Change of the Eurozone to be Published

The high-importance economic news about the release of Employment Change in the Eurozone will be disclosed today at 10:00 GMT by Eurostat. Market participants who are associated with the labour sector of the market or those trading in the euro quotes are suggested to be alert during the release of the indicator, as it will be impacting the value of the currency. Top economists are forecasting the figure to be 0.3%, which was the same when released on 7th Dec 2022 at 10:00 GMT. If there is a rise in the readings of the indicator, it will be representing an increase in consumer spending.

FOMC Member Williams will be Delivering a Speech Today

The Federal Reserve Bank of New York informed that the member of the FOMC will be giving a speech today at 19:05 GMT, as it would provide implications of the changes made in the monetary policy of the Fed. Market participants who are trading in the US dollar quotes are requested to closely observe the speech delivered by John Williams and analyse its possible consequences before taking any critical market decisions.