Economic calendar: Oil inventories data and US politics

• US politics to remain in the spotlight
• Czech National Bank to announce interest rate decision
• DOE report expected to show a decline in crude stockpiles

12:00 pm BST - Czech National Bank rate decision. The Czech National Bank raised interest rates in the first half of the year but remained on hold since. The situation is expected to continue during today’s meeting with main interest rate staying at 2%. Nevertheless, volatility on EURCZK and USDCZK may raise in response to the statement.

3:00 pm BST - US, New home sales for August. The US housing market data released in the previous week was much better than expected. Nevertheless, it seems likely that today’s reading will be somewhat overlooked by the USD traders due to the ongoing impeachment theme. 

3:30 pm BST - DOE report on oil inventories. WTI plummeted below the $57 handle yesterday with API data being partially responsible for the drop. The private report showed an unexpected build of 1.4 million barrels and in case it is confirmed by today’s DOE release, crude prices may remain under pressure. Market consensus points to declining crude and distillate stockpiles and slight increase in gasoline inventories.

US politics

There are no crucial US readings scheduled for release today therefore markets are likely to be focused on politics in the afternoon. Traders should pay attention to Trump’s tweets after Democrats launched a formal proceedings to impeach the US President. As the whole situation concerns Trump’s call with Ukraine’s Zelensky, some comments from the US President may come after a meeting with the Ukrainian counterpart (start at 8:15 pm BST).

Central bankers’ speeches

• 8:00 am BST - ECB’s Coeure

• 10:00 am BST - ECB’s Lautenschlaeger

• 1:00 pm BST - Fed’s Evans

• 2:05 pm BST - BoE Governor Carney

• 2:10 pm BST - Riksbank’s Floden

• 3:00 pm BST - ECB’s Coeure

• 3:00 pm BST - Fed’s George

• 3:00 pm BST - Fed’s Brainard

• 4:15 pm BST - BoE Governor Carney