Fundamentals of the Day: Thursday, April 18, 2024

Daily Fundamentals - Quantum Strikes
Daily Fundamentals - Quantum Strikes

Today’s economic calendar is packed with several high-impact events that could significantly influence the EUR/USD currency pair. Here’s a detailed preview of the key fundamentals scheduled for release:

1. ECB Guindos Speech

Event Date/Time: April 18, 10:15

Importance: HIGH

Overview: The speech by ECB Vice President Luis de Guindos is highly anticipated, as investors seek clarity on the Eurozone’s monetary policy direction. Any indication of a hawkish stance could bolster the euro, while dovish remarks may exert downward pressure on the currency.

2. U.S. Jobless Claims Data

Event Date/Time: April 18, 15:30

Details and Expectations:

  • Continuing Jobless Claims (Apr/06)
    • Previous: 1817K
    • Consensus: 1820K
  • Initial Jobless Claims (Apr/13)
    • Previous: 211K
    • Consensus: 215K
  • Jobless Claims 4-week Average (Apr/13)
    • Consensus: 214.25K

Importance: HIGH

Preview: This set of data will be critical in assessing the health of the U.S. labor market. Deviations from expected numbers could lead to volatility in the USD, with higher jobless claims potentially weakening the currency and lower figures strengthening it.

3. U.S. Existing Home Sales

Event Date/Time: April 18, 17:00

Details and Expectations:

  • Existing Home Sales MoM (Mar)
    • Previous: 9.5%
    • Consensus: -2.2%
  • Existing Home Sales (Mar)
    • Previous: 4.38M
    • Consensus: 4.2M

Importance: HIGH

Preview: The housing market data will provide insights into economic stability and consumer confidence in the U.S. A sharper decline than expected could signal economic headwinds, affecting the USD negatively, while positive surprises could support a stronger USD.

Conclusion

As we monitor these crucial economic indicators, their impact on the EUR/USD pair could be substantial. Market participants are advised to stay alert to these releases, as they could prompt significant shifts in currency valuations. We will revisit these data points later today with actual figures to analyze their immediate effects on market dynamics.