Core Durable Goods Orders to be Disclosed Today

Core Durable Goods Orders to be Disclosed Today

The market will eagerly be anticipating the release of the Core Durable Goods Orders by the US Census Bureau on Wednesday at 12:30 GMT. Top economists are expecting the indicator to be 0.4%. With the release of the indicator, the future production volumes in the short term could be estimated. Moreover, the indicator represents the value of orders received by manufacturers of durable goods in March compared to February.

When the Core Durable Goods Orders was unveiled on 26th Mar 2024 at 12:30 GMT, it stood at 0.5% in place of the forecasted value of 0.2%. So, now if there is a decline in the readings of the indicator, it will have a negative effect on the American currency. Therefore, the market participants who are trading in the US dollar quotes are advised to be alert during the release of the indicator.

Germany to Announce Ifo Business Climate

Ifo Business Climate of Germany will be published on Wednesday at 08:30 GMT. The indicator that reflects the current economic situation and forecasting for the upcoming six months from the point of view of German companies is expected to be 88.8. Meanwhile, when it was released on 22nd Mar 2024 at 09:30 GMT, the indicator stood at 87.8 instead of the anticipated figure of 86.3. Furthermore, a favourable impact will be felt on the euro quotes if the readings are found to be higher than expected. The market participants who are trading in the currency pair are suggested to make a note of the changes in the readings of the indicator before making any significant market decisions.  

EIA Crude Oil Stocks Change

The market participants who are associated with the energy sector of the market will be focusing on the announcement of the EIA Crude Oil Stocks Change, which will be done by the US Energy Information Administration on Wednesday at 14:30 GMT. Financial experts are expecting a rise of 1.040 M, which had an increase of 2.735 M as per the release of 17th Apr 2024 at 14:30 GMT. Since the EIA Crude Oil Stocks Change is one of the indicators impacting world oil prices, the rise in the readings of the crude oil stocks will have a negative impact on the oil barrel price because it indicates a weaker demand for oil.