- Markets in mixed mood ahead of Nvidia results
- The calendar will be completed by FOMC minutes.
- API data yesterday pointed to a large increase in US oil inventories; will EIA data confirm this?
Wednesday's session on international financial markets may prove crucial in determining the overall market sentiment for the rest of the week, and perhaps even longer, given that today we will see Nvidia's quarterly report and the FOMC minutes from the last meeting on interest rates.
At a time when the stock market is dominated by pullbacks, pushing indices to important psychological support levels, Nvidia's results may determine whether investors' doubts about the AI sector are justified or whether the company's strong performance will manage to keep the markets afloat.
The situation is slightly different when it comes to the FOMC minutes, as they are unlikely to change the current expectations of a pause by the Fed in December, but they may still provide some important insights into the mood of US central bankers.
In Europe, attention will focus on inflation data from the United Kingdom and the Eurozone.
Key macroeconomic data for the day (CET time):
08:00, United Kingdom - inflation data for October:
- Core CPI: forecast 3.4% y/y; previous 3.5% y/y;
- Retail Price Index (RPI): forecast 4.3% y/y; previous 4.5% y/y;
- Core CPI: forecast 0.4% m/m; previous 0.0% m/m;
- CPI index: forecast 3.5% y/y; previously 3.8% y/y;
09:00, Eurozone - European Central Bank meeting on monetary policy
11:00, Eurozone - inflation data for October:
- HICP index, excluding energy and food: forecast 2.4% y/y; previously 2.4% y/y;
- Core CPI: forecast 2.4% y/y; previous 2.4% y/y;
- Core CPI: forecast 0.3% m/m; previous 0.1% m/m;
- CPI index: forecast 2.1% y/y; previously 2.2% y/y;
- CPI index: forecast 0.2% m/m; previous 0.1% m/m;
- CPI excluding tobacco: previously 0.1% m/m;
- CPI excluding tobacco: previously 2.2% y/y;
- HICP index, excluding energy and food: forecast 0.2% m/m; previous 0.1% m/m;
16:30, United States - EIA report:
- Crude oil inventories: forecast -1,900M; previous 6,413M;
- Crude oil processing by refineries – EIA data (t/t): previously 0.717M;
- Crude oil imports: previously 0.849M;
- Crude oil inventories in Cushing: previously -0.346M;
- Production of distilled fuels: previously 0.319M;
- Weekly distillate prices according to the EIA: previously -0.637M;
- Petrol production: previously 0.102M;
- Petrol stocks: previously -0.945M;
- Weekly refinery utilisation rates – EIA data (week-on-week): previously 3.4%;
20:00, United States - Speech by FOMC member Williams
20:00, United States - FOMC meeting minutes
BREAKING: GBPUSD ticks lower after mixed UK CPI print
Morning Wrap (19.11.2025)
Daily summary: Wall Street tries to rebound 📈Amazon and Microsoft under pressure of Rotschild & Co Redburn
Cocoa tries to stabilize after autumn sell-off 📌
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