Economic Calendar 13 january 2021
American Petroleum Institute (API) Weekly Crude Oil Stocks
Actual - (-5,821M) Forecast (-2,700M)
Prev - (- 1.66M)
The American Petroleum Institute publishes weekly data every Tuesday after 4 pm reporting on stocks of crude oil, gasoline and distillates. The figures show how much oil and petroleum products are in storage and how much supplies will last. Also, the data represents the demand for oil by product and region of the United States, as well as monitoring the production of crude oil and imports of oil and oil products.
Crude oil reserves
Actual - (-8,010M) Forecast (-2,133M)
Prev - (-6.065M)
The Energy Information Agency's (EIA) crude oil inventories is quantifying the weekly increase in barrels of commercial oil held by US firms. The level of inventories affects the price of petroleum products, which in turn affects inflation and other economic forces.
ECB President Lagarde to deliver a speech
Christine Lagarde, Chairman of the European Central Bank (November 2019 – October 2027), will deliver a speech. The head of the European Central Bank sets short-term interest rates and has a decisive influence on the euro. Traders closely follow Lagarde's speeches, in which she often leaves subtle clues about the future course of monetary policy and changes in interest rates. Her comments may indicate a short-term rise or fall in the euro.
Core Consumer Price Index (CPI) MoM (Dec)
Fact - 0.2% Forecast - 0.1%
Pre - 0.2%
The core consumer price index reflects changes in the price of goods and services, excluding food and energy.
The CPI reflects the change from the point of view of the consumer.
It is a key way to measure changes in US purchasing and inflation trends.
Indicators higher than expected are seen as positive / bullish for the USD (a common way to fight inflation is to raise rates that can attract foreign investment), while data below the forecast negatively affects the USD exchange rate.
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