Market Opportunities : Week 11-03-2024 - 15-03-2024

USDIDX: United States Consumer Price Index (CPI) report on March 12 is the major event for forex markets in March 11 -15 week. Investors will be watching closely to see whether the consumer inflation declines or accelerates again while policy makers stress the need for sustained decline in inflation toward 2% target rate to warrant lower rates. In case the inflation rises from the previous reading of 3.1% over year this may support the view the Federal Reserve will lean in direction of keeping rates higher longer - otherwise USDIDX will get a bearish impulse.

GBPUSD: United Kingdom gross domestic product report on March 13 is an important event for forex markets. There is a possibility the Office for National Statistics may report UK economy continued to contract in January after 0.1% contraction over month in December, which will be bearish for GBPUSD.