Global Economic News-in-Brief: Nov 27 to Dec 1

Global Economic News-in-Brief: Nov 27 to Dec 1

 November 27: New Home Sales

The Census Bureau released the New Home Sales data on Monday at 15:00 GMT, showing 0.679 M in place of 0.716 M. Dollar quotations will be negatively impacted because the indicator's readings are declining. As a result, it is advised that market participants who trade in US dollars be cautious before making any big choices. The indicator's publication allowed for an evaluation of the housing market's conditions. The next time it is unveiled is at 15:00 GMT on December 22, 2023.

 November 28: CB Consumer Confidence Index

Tuesday at 15:00 GMT featured the publication of the CB Consumer Confidence Index. Financial experts had projected that it would be 102.7, but it ended up at 102. Given the rising values of the indicator, it is believed that consumer spending has increased. It is also advised that market participants connected to the consumer sector of the market exercise caution when the CB Consumer Confidence Index is announced, given its position as a leading market indicator. The indicator will be released again on the 20th of December 2023, at 15:00 GMT.

 November 29: US GDP

The market participants who are trading in the US dollar quotes are highly recommended to be cautious during the announcement of the third quarter of the US GDP, which was made on Wednesday at 13:30 GMT. The statistics were unveiled by the Bureau of Economic Analysis and were projected to be 4.9%. However, its growth expanded at an annual rate of 5.2%. The US economy has grown at its fastest rate since 2021's fourth quarter. However, several industries would be affected differently by the US's stronger GDP growth. Technology companies will be nervous about it, but the automobile and consumer durables industries will find comfort in it.

November 30: Pending Home Sales

On Thursday at 15:00 GMT, the US Pending Home Sales were announced. The National Association of Realtors provided the statistics, which showed a 1.5% fall in pending home sales in October. The dollar quotations will be impacted as a result of the indicator's declining values. It is recommended that market participants closely associated with the housing sector of the market or dealing in US dollar quotations exercise caution when it comes to variations in the indicator's readings. The indication will next be revealed on the 28th of December 2023, at 15:00 GMT.

 December 1: ISM Manufacturing PMI

Investors in US dollars are strongly advised to monitor changes in the indicator's readings. The Institute for Supply Management released its ISM Manufacturing report on Friday at 15:00 GMT, and it was revealed to be 46.7 instead of the predicted 47.8. The US dollar quotations will suffer since the values are less than 50. The next release of the ISM Manufacturing PMI is scheduled for January 3, 2024, at 15:00 GMT.