We have a busy day ahead of us in terms of publishing important macro data and events, and during the European session attention will be focused on Germany’s trade balance data, as well as the ZEW Economic Sentiment indicator, whose growth has slowed over the past 6 months. , as traders will follow the speeches of Lagarde – ECB and Bailey – BoE, looking for guidance on the prospects for monetary policy of the EU and the UK.
During the US session, the focus will be on US PPI data, which provides information on inflation, which is closely monitored by the Fed, and immediately after the publication of the report Jerome Powell will make a statement that could provide more clues as to the interpretation of published data from the Fed and the schedule for raising interest rates.
The API report on weekly crude oil inventories will be published by the end of the US session, and this data will also be crucial, taking into account the US intention to take action against high oil prices, as one of the mentioned from officials options is the release of part of the country’s strategic reserves.
09:00 – Germany – Trade Balance
09:45 – Eurozone – ECB speech by Panetta
12:00 – Germany – ZEW Economic Sentment
12:00 – Eurozone – ZEW Economic Sentment
15:00 – Eurozone – ECB speech by Lagarde
15:30 – USA – PPI
16:00 – USA – Powell speech – FED
18:00 – UK – Boiley’s BoE speech
19:00 – USA – EIA Short-Term Energy Outlook
20:00 – USA – U.S. 10-Year Note Auction
10:30 pm – USA – Weekly Crude Oil Stock API
Junior Trader Nikolay Stoychev