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Economic calendar: Fed decision and Tesla earnings in focus

8:48 AM 26 January 2022
  • European markets set to open higher
  • Fed policy decision in the evening
  • BoC interest rate decision
  • Tesla (TSLA.US) Q4 earnings after market close

Current quotes on the futures markets point to higher opening of the European cash trading session today. Session in Asia was mixed today as blue chips indices from China struggled to find common direction while other indices from the region moved lower. Things are about to get more interesting later in the day thanks to top-tier events scheduled for today.

FOMC decision in the evening (7:00 pm GMT) is a key event of the day. While moves like rate hikes or balance sheet reduction are not expected until March, some guidance may be offered. Apart from the Fed, investors will also get to hear from the Bank of Canada (3:00 pm GMT0. Expectations are mixed with some financial institutions even projecting the first rate hike of a cycle this week. 

Oil traders should keep on guard during the release of DOE report at 3:30 pm GMT after API data showed a much bigger than expected draw in oil inventories. Also earnings from Tesla and Intel or potential escalation of geopolitical tensions between the US and Russia could trigger bigger moves on the market. 

1:30 pm GMT - US, goods trade balance for December. Expected: -$96.1 billion. Previous: -$98.0 billion

3:00 pm GMT - Bank of Canada decision

3:00 pm GMT - US, new home sales MoM for December. Expected: 0.76 M Previous: 0.744 M

3:30 pm GMT - DOE report on oil inventories.

  • Oil inventories. Expected: -0.728 mb (API: -0.872 mb)
  • Gasoline inventories. Expected: +2.548 mb (API: +2.4 mb)
  • Distillate inventories. Expected: -1.26 mb (API: -2.2 mb)

7:00 pm GMT - FOMC meeting

Central bankers' speeches:

4:00 pm GMT - BoC Governor Macklem

7:30 pm GMT - Fed Chair Powell (post-meeting press conference)

Top Wall Street earnings releases:

Tesla (TSLA.US) - after market close

Intel (INTC.US) - after market close

AT&T (T.US) - before market open

Boeing (BA.US) - before market open

General Dynamics (GD.US) - before market open

Levi Strauss (LEVI.US) - after market close

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