Summary:
- Durable goods orders on the agenda in early afternoon
- Existing home sales will provide another data from US housing market
- DoE report in the spotlight after a huge price fall
Economic calendar on Wednesday contains several interesting readings. First of all, investors will be offered data concerning durable goods orders in the early afternoon. Later on, another data from the US housing market will be released. On top of that, oil traders will focus on today’s report published by the US Department of Energy after yesterday’s crash in oil prices. Apart from that, the European Commission is going to release a review of an Italian budget draft.
1:30 pm GMT - US, Durable Goods Orders for October: The day will start with some data concerning durable goods orders in the previous month. As usual investors will be offered the preliminary data today. It is expected that today’s publication will deliver a 2.5% MoM fall in a headline figure and a 0.4% MoM increase in orders excluding transportation.
3:00 pm GMT - US, Existing Home Sales for October: Yesterday, there were released two important readings from the US housing market which presented mixed results. US housing starts showed a little better-than-expected figure (1228k vs. expected 1225k), but building permits failed to meet market expectations (1263k vs. expected 1267k). A release of existing home sales is another reading scheduled for today. The market consensus suggests that today’s publication will show a value of 5.2 million against 5.15 million seen previously.
3:30 pm GMT - US, DoE Report: The crude oil experienced another giant decline yesterday. Nevertheless, the commodity has begun Wednesday’s trading with mild rises after yesterday’s API report showed an unexpected drop in crude oil inventories. Analysts surveyed by Bloomberg suggest that today’s DoE data will produce a 2.86 mb build.
Central bank speakers scheduled for today:
- 3:15 pm GMT - Carney, BoE Governor
Today, Brent (OIL on xStation5) prices are slightly recovering following the immense decline yesterday. Source: xStation5
