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EIA Crude Oil Inventories. USA, 17:00 (GMT+2) 17 Oct

17Oct.202416:00

EIA Crude Oil Inventories. USA, 17:00 (GMT+2)

At 17:00 (GMT+2), the Energy Information Administration's (EIA) will publish a weekly report on oil and petroleum product inventories. The report contains data on changes in the volume of crude oil, as well as gasoline and distillates in the United States. An increase in reserves tends to put pressure on oil prices. Last time, the volume of American commercial oil reserves grew by 5.810 million barrels. The continuation of this trend may put pressure on quotes.

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ECB Interest Rate Decision. EU, 14:15 (GMT+2)
17 Oct. 2024 13:15
ECB Interest Rate Decision. EU, 14:15 (GMT+2)

At 14:15 (GMT + 2), the European Central Bank will announce its decision on interest rates. It is expected that the regulator will continue the process of reducing them: the key rate will decrease from 3.65% to 3.40%, the deposit rate from 3.50% to 3.25%, and the margin one from 3.90% to 3.65%. The follow-up statement may contain an assessment of the current situation and the immediate prospects for the European economy, as well as hints at further actions of the regulator in the field of monetary policy.

Consumer Price Index. Japan, 01:30 (GMT+2)
18 Oct. 2024 00:30
Consumer Price Index. Japan, 01:30 (GMT+2)

At 01:30 (GMT+2), data on the national consumer price index (CPI) for September will be published in Japan. It is the main indicator of inflation in the country and determines the change in the level of retail prices for a certain "basket" of goods and services: food, transportation, utilities, healthcare, etc. It has a significant impact on monetary policy decisions. The consumer price index is expected to decrease from 3.0% to 2.7% YoY, and the core indicator – from 2.8% to 2.3%. Thus, inflationary pressure may decrease, which will reduce the likelihood of an early interest rate hike by the Bank of Japan and put pressure on the yen.

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