Economic calendar: Oil market data and Brexit

• Oil traders await stockpiles data

• Brexit drama continues

3:30 pm BST - DoE report on oil inventories. API report released yesterday signalled a 4.45 million barrel increase in crude inventories. In case it is confirmed by today’s DoE release, WTI price could come under pressure and pull back from the upper limit of its recent trading range. On the other hand, distillate and gasoline stocks are expected to rise.

Brexit

The UK parliament approved Brexit deal yesterday but rejected programme motion, causing some confusion. It is unclear what happens next. In case EU grants another extension to Article 50, the UK authorities vow to pursue elections. Traders should watch today’s newsflow carefully for any hints. GBP is likely to stay volatile throughout the day.

Major companies reporting earnings today

• Microsoft (MSFT.US)

• Caterpillar (CAT.US)

• Boeing (BA.US)

• Whirlpool (WHR.US)

• AT&T (T.US)

• PayPal (PYPL.US)

• Ford Motor (F.US0

• Ebay (EBAY.US)