The inaugural week of 2024 is poised to be a dynamic period for traders and investors, with a spotlight on critical economic indicators that are expected to shape market sentiments. Among the pivotal data releases are the ISM Manufacturing and Services PMI from the US, the German Preliminary CPI from the EU, and the highly anticipated US and Canada Employment Change figures. This overview aims to guide you through the key developments and predictions, with a specific emphasis on the potential impact on major currencies, particularly the US Dollar.

It’s crucial for traders to be cautious and stay on top of the latest developments for a successful week of trading. 

ISM Manufacturing PMI (3 January 2024)

The ISM Manufacturing PMI, holding steady at 46.7 in November 2023, is expected to modestly increase to 47.1 in the upcoming release on 3 January 2024.

FOMC Meeting Minutes (4 January 2024)

The Federal Reserve maintained the fed funds rate at 5.25%-5.5% for a third consecutive meeting in December 2023. However, they have hinted at a potential 75 basis points cut in 2024. Therefore the meeting minutes on 4 January 2024 will provide insights into the Fed’s latest monetary policy stance, reflecting the current economic indicators, including slowed growth, moderated job gains, and persistent but slightly eased inflation.

German Prelim CPI (4 January 2024)

After a 0.4% decline in November 2023, Germany’s Preliminary CPI, anticipated on 4 January 2024, is expected to rebound with a projected increase of 0.2%.

Canada Employment Change (5 January 2024)

Following positive employment numbers in October and November of 2023, Canada is poised to release its December 2023 employment data on 5 January 2024. Forecasts suggest an increase of 12K jobs, but with a marginal uptick in the unemployment rate to 5.9%.

US Non-Farm Employment Change (5 January 2024)

November 2023 saw a robust addition of 199k jobs in the US, surpassing October figures. The upcoming release on 5 January 2024 is anticipated to reveal a positive trend with an estimated increase of 163,000 jobs, while the unemployment rate is expected to inch up to 3.8%.

US ISM Services PMI (5 January 2024)

Closing the week, the US ISM Services PMI, reflecting growth in the services sector, is projected to experience a marginal decline from 52.7 to 52.6 in the December figures, set for release on 5 January 2024.

As traders embark on the first week of 2024, vigilance and adaptability will be key. Stay informed, monitor the latest developments, and be prepared for potential market shifts in response to these critical economic indicators.

Dear Client,

Please note that the dividends of the following products will be adjusted accordingly. Index dividends will be executed separately through a balance statement directly to your trading account, and the comment will be in the following format “Div & Product Name & Net Volume ”.

Please refer to the table below for more details:

The above data is for reference only, please refer to the MT4/MT5 software for specific data.

If you’d like more information, please don’t hesitate to contact info@vtmarkets.com.

Dear Client,

Please note that the dividends of the following products will be adjusted accordingly. Index dividends will be executed separately through a balance statement directly to your trading account, and the comment will be in the following format “Div & Product Name & Net Volume ”.

Please refer to the table below for more details:

The above data is for reference only, please refer to the MT4/MT5 software for specific data.

If you’d like more information, please don’t hesitate to contact info@vtmarkets.com.

Dear Client,

Please note that the dividends of the following products will be adjusted accordingly. Index dividends will be executed separately through a balance statement directly to your trading account, and the comment will be in the following format “Div & Product Name & Net Volume ”.

Please refer to the table below for more details:

The above data is for reference only, please refer to the MT4/MT5 software for specific data.

If you’d like more information, please don’t hesitate to contact info@vtmarkets.com.

Dear Client,

Please note that the dividends of the following products will be adjusted accordingly. Index dividends will be executed separately through a balance statement directly to your trading account, and the comment will be in the following format “Div & Product Name & Net Volume ”.

Please refer to the table below for more details:

The above data is for reference only, please refer to the MT4/MT5 software for specific data.

If you’d like more information, please don’t hesitate to contact info@vtmarkets.com.

Sydney, Australia, 27 December 2023 – Having reaffirmed its commitment to corporate social responsibility (CSR) earlier in the year, VT Markets is closing the year with 3 major environmental, social, and governance (ESG) milestones under its belt:

• Food for good with the UN’s ShareTheMeal programme
  Through the United Nations’ online ShareTheMeal platform, VT Markets raised 2,000 meals for communities in need between November to December 2023.
• A gift of joy with South Africa’s Cotlands
  Ahead of the holiday season, VT Markets donated 1,240 educational toys—including stacking rings and puzzles—to Cotlands, a Johannesburg organisation seeking to provide early development opportunities to marginalised children.
• Youth advocacy at UNESCO’s Jakarta workshop
  In addition to pledging its support as a key sponsor, VT Markets advocated for equal treatment of young STEM professionals via a keynote address at the UNESCO-led 3rd International Workshop and Training on Youth and Young Professionals in Science, Engineering, Technology, and Innovation for Disaster and Climate Resilience.

Commenting on these initiatives, VT Markets’ Director of Global Marketing, Martin Li, stated: “The work we’ve done with ShareTheMeal, Cotlands, and UNESCO is just the start of much more to come. In a year that has yielded its fair share of challenges for humanity, we’re delighted to have contributed in some way.”

Heading into 2024, VT Markets is poised to build on this success. Off the back of a fresh partnership with the renowned team competing in the formula E world championship Maserati MSG Racing, the company will redouble its ESG efforts with both new and existing collaborators in tow. For news of upcoming initiatives and potential sponsorship opportunities, be sure to follow VT Markets on their official website and social media pages.

About VT Markets:

VT Markets is a regulated multi-asset broker with a presence in over 160 countries. To date, it has won numerous international accolades including Best Customer Service and Fastest Growing Broker.

 In line with its mission to make trading accessible to all, VT Markets currently offers unfettered access to over 1,000 financial instruments and a seamless trading experience via its award-winning mobile app.

For more information, please visit the official VT Markets website or email them at info@vtmarkets.com. Alternatively, follow VT Markets on Facebook, Instagram, or LinkedIn.

For media enquiries and sponsorship opportunities, please email media@vtmarkets.com.

Dear Client,

Please note that the dividends of the following products will be adjusted accordingly. Index dividends will be executed separately through a balance statement directly to your trading account, and the comment will be in the following format “Div & Product Name & Net Volume ”.

Please refer to the table below for more details:

The above data is for reference only, please refer to the MT4/MT5 software for specific data.

If you’d like more information, please don’t hesitate to contact info@vtmarkets.com.

With no high-impact news expected, the market’s attention will be focused on the holiday season this week. Investor sentiment is likely to be influenced by holiday festivities, resulting in increased shopping activity and the investment of holiday bonuses. Additionally, the end-of-year period typically coincides with institutional investors going on vacation, leaving the market in the hands of comparatively bullish retail investors. This phenomenon, known as the Santa Claus rally, is expected to occur in the last week of December.

Holiday-related factors aside, here are several other medium-impact market indicators to watch for in the last week of 2023:

US unemployment claims (28 December 2023)

The number of Americans filing for unemployment benefits increased by 2,000 to 205,000 in the week ending 16 December, staying close to the 2-month low of 203,000 seen in the previous week.

Analysts expect a further rise to 207,000 in the week ending 28 December.

US pending home sales (28 December 2023)

Following a 1% rise in September 2023, pending home sales in the US dropped 1.5% month-over-month in October, marking the lowest level since records were first kept in 2001.

Analysts expect a 0.5% increase in the figures for November, set to be released on 28 December.

Dear Client,

Please note that the dividends of the following products will be adjusted accordingly. Index dividends will be executed separately through a balance statement directly to your trading account, and the comment will be in the following format “Div & Product Name & Net Volume ”.

Please refer to the table below for more details:

The above data is for reference only, please refer to the MT4/MT5 software for specific data.

If you’d like more information, please don’t hesitate to contact info@vtmarkets.com.

Dear Client,

Please note that the dividends of the following products will be adjusted accordingly. Index dividends will be executed separately through a balance statement directly to your trading account, and the comment will be in the following format “Div & Product Name & Net Volume ”.

Please refer to the table below for more details:

The above data is for reference only, please refer to the MT4/MT5 software for specific data.

If you’d like more information, please don’t hesitate to contact info@vtmarkets.com.