For investors interested in the European market, today’s economic calendar is relatively light. However, U.S. market investors will receive a few interesting releases in the afternoon, including the FOMC minutes from the last Fed meeting and speeches from Fed officials.
The most important event of the week remains tomorrow’s release of the U.S. CPI report. However, after the recent strong jobs report, today’s speeches from FOMC representatives may be just as intriguing. Currently, the market has almost completely abandoned the scenario of another 50 basis point cut at the November meeting. Today's speeches, including those from Logan, Goolsbee, Barkin, Jefferson, and Collins, may shed some light on how the Fed interprets the recent labor market data and how it might affect the next meeting’s decision.
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Open account Try demo Download mobile app Download mobile appIn between the speeches, we will also get the minutes from the last Fed meeting. The release may provide more insights for a deeper understanding of Federal Reserve policy and the recent pivot. Nevertheless, the general approach is likely to remain in line with Jerome Powell's message during the press conference following the decision.
Detailed schedule for the day:
09:30 AM BST, Euro Zone - ECB's Elderson Speaks
01:00 PM BST, United States - FOMC Member Bostic Speaks
03:30 PM BST, United States - Fed Goolsbee Speaks
03:30 PM BST, United States - EIA Data:
- Gasoline Inventories: forecast -1.500M; previous 1.119M;
- Crude Oil Inventories: forecast 2.000M; previous 3.889M;
- EIA Weekly Distillates Stocks: forecast -2.300M; previous -1.284M;
03:30 PM BST, United States - FOMC Member Barkin Speaks
04:00 PM BST, United States - FOMC Member Williams Speaks
07:00 PM BST, United States - FOMC Meeting Minutes
11:00 PM BST, United States - FOMC Member Daly Speaks
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