Economic Calendar March 23
UK- CPI (Consumer Price Index) (YoY) (Feb) – Tuesday – 09:30 GMT
The CPI rate is the commonly used measure of inflation in the UK. The forecast is usually calculated by the confederation of British Industry. A peak during this period of 2 percent in the first half of 2015 had been predicted. The CPI is simply a method to measure average prices of a basket of consumer goods and services which are weighted according to their importance. The fluctuation in price changes is often associated with the cost of living. The previous reading for the data was 0.3 percent and is targeted to decrease by 0.2 percent. Considering the actual state of the economy the reading is expected to be bullish.
EUR- German IFO Business Climate Index (Mar) – Wednesday- 09:00 GMT
The Euro is slightly rising upwards on the charts and is gaining enough momentum against the dollar. The euro is still stagnating on the charts and need more measures to sustain its revival. The crisis in Ukraine and Greece weigh on the confidence and creates confusion among investors. The previous reading for IFO Business climate was at 106.8 and it is predicted to increase by 0.5. The IFO business climate index will throw a light on the current German business climate and will measure expectation for the next six months. Germany being the most performing economy of the Eurozone, thus, the reading for IFO business climate shall be positive
U.S. – GDP (Gross domestic product) – (QoQ) (Q4) – 12:30 GMT
The gross domestic product represents the market value of all goods and services produced in the U.S. in a given quarter or year. The data collected is the primary measure of the pace of economic growth. The GDP data for U.S. alone represents $16.8 trillion since the average incomes are high, tagged along by a large population and high consumer spending. With the economy of U.S. recuperating a bit, the delay in hike of rates might come in to play the spoilsport. Also, lately, negative data for retail sales could impede on the growth of U.S., which also brought down the dollar. On the contrary, the last reading for the GDP was 2.2 percent and is expected to rise by 0.2 percent.
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