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Starting Wednesday, the US will report data on producer price inflation. Producer Price Index for final demand in the US declined 0.1% month-over-month in August, with analysts now expecting a flat reading for September.
As the week progresses, data on initial jobless claims and the inflation rate will be released on Thursday. The annual inflation rate in the US is expected to have risen to 8.3% in September, as in the previous month. Analysts, however, expect the annual core inflation rate at 6.4% in September, from 6.3% in August.
Data on retail sales and import and export prices will be released by the end of the week. Retail sales are expected to have risen 0.2% in September, following a 0.3% increase in August. Analysts expect import prices to have declined 1.2% compared to a 1% drop a month ago.
Why are these reports so important?
The US Federal Reserve has been under a lot of pressure due to the continuous surge in inflation, which is forcing the central bank to sharply increase interest rates. Some regular easing in the inflation rate might alleviate some pressure off the Fed.
Nasdaq 100 Prospects
The third quarter has been quite challenging for the US markets amid issues such as rising interest rates and recession concerns. The Nasdaq 100 closed the quarter recording losses of around 5% as Fed officials reiterated their intent to hold interest rates unchanged until inflation eases sufficiently. Better-than-expected data might provide some support to the tech-laden index.
Be ready for a big week full of economic releases, which could provide some exciting trading opportunities for the leading index.
Are you ready to make the most of forex trading opportunities this week, before and after this week’s big economic releases in the US?
Start trading key news announcements now at Vantage.
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