Economic Calendar For Today

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German economic sentiment figures to be published in the morning
EU Finance Ministers will discuss plan on non-performing loans
Weekly API report on oil inventories to take the spotlight in the evening
 
Tuesday looks rather calm when it comes to the macroeconomic releases. In the morning hours figures concerning economic sentiment from the Eurozone are going to be published. We will also get semi-important data from the US in the afternoon. Oil traders may want to stay cautious ahead of weekly API report as we are entering a period of seasonal inventories increases. Apart from that, European investors may want to follow the press today as the EU Finance Ministers are about to meet and discuss further development of the economic and monetary union as well as implementation of an action plan on non-performing loans.


10:00 am BST - Germany, ZEW Economic Sentiment for January. An index measuring six-month economic outlook for Germany based on a survey among 350 German institutional investors and analysts. A reading above 0 indicates optimism. The latest print came in at 17.4 against 18 pts expected. We have not seen a reading below 0 since June 2016 therefore one can assume the outlook for the German economy has been solid. This time market consensus calls for a reading of 17.7 pts.


3:00 pm BST - US, Richmond Fed Manufacturing Index for January. A measure rating the level of business conditions in Richmond region. A reading greater than 0 indicates that the conditions are improving. We have not seen a reading below 0 since October 2016. This time market consensus point for a print of 19 against 20 pts seen last time.


9:35 pm BST - US, API Weekly Crude Oil Stock. A weekly report on oil inventories by API that is often used as a hint ahead of official DOE report. The last 9 prints showed a decline of stocks what provided additional support to the rally on the oil market. However, looking at the seasonality we are entering a period when inventories tend to rise. Having that in mind oil traders should be aware that this week’s releases on oil inventories may spur increased volatility.


Central banks speakers scheduled for today:
8:00 am BST - Riksbank Governor Ingves
3:00 pm BST - Fed Nominee Goodfriend
 
EURUSD still remains in the consolidation range. Will data published this week make situation more clear?