The economic calendar on Tuesday looks relatively empty as just one noteworthy reading is scheduled. Namely, investors will be offered a crude oil inventories data provided by the American Petroleum Institute as usual on Tuesday. On the other hand, some central bankers are scheduled to speak today, including a speech of the Governor of the Bank of England at a conference in Toronto. Apart from that, some major American companies will publish earnings through the day.
9:40 pm BST - US, API Crude Oil Inventories: Oil-related topics became more eagerly watched as Brent broke $80 and then $85 per barrel. However, the commodity has seen noticeable drops since then. Brent (OIL on xStation5) is moving slightly below $80 this morning, struggling to choose a clearer direction. What’s more, Saudi Arabia has vowed to boost oil production in order to cover a shortfall in Iranian crude. Will API data influence Brent prices?
Central bank speakers scheduled for today:
- 11:30 am BST - BoE’s Haldane
- 2:30 pm BST - Fed’s Kashkari
- 4:30 pm BST - BoE’s Carney
- 6:30 pm BST - Fed’s Bostic
- 7:15 pm BST - Fed’s Kaplan
Major US companies reporting earnings today:
- McDonald’s (MCD.US) - bef-mkt
- 3M (MMM.US) - bef-mkt
- United Technologies (UTX.US) - bef-mkt
- Texas Instruments (TXN.US) - aft-mkt
- Verizon Communications (VZ.US) - aft-mkt
Brent (OIL on xStation5) experienced noticeable declines to around $80 after it had reached its 4-year high. The commodity is trading subtly below this price level at press time. Source: xStation5
