TOP 3 MARKET EVENTS IN UPCOMING WEEK – 15 JANUARY 2021

TOP 3 MARKET EVENTS IN UPCOMING WEEK – 15 JANUARY 2021

TOP 3 MARKET

TOP 3 MARKET EVENTS IN THE UPCOMING WEEK

U.K. Average Earnings Index +Bonus

 WHEN:                                                                WHAT IT INFLUENCES:

18th  January 2021                                          GBP  and its subsequent

                                                                             pairs

WHAT’S HAPPENING:

The U.S. Building Permits

WHEN:                                                                 WHAT IT INFLUENCES:

19th January  2021                                       USD   and its subsequent

                                                                             pairs

WHAT’S HAPPENING: 

Building Permits measure the change in the number of new building permits issued by the government. Building permits are a key indicator of demand in the housing market.

A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.

U.S. Crude Oil Inventories

WHEN:                                                               WHAT IT INFLUENCES:

20th  January  2021                                        USD and its subsequent

                                                                             pairs

WHAT’S HAPPENING: 

The Energy Information Administration’s (EIA) Crude Oil Inventories measures the weekly change in the number of barrels of commercial crude oil held by US firms. The level of inventories influences the price of petroleum products, which can have an impact on inflation.

If the increase in crude inventories is more than expected, it implies weaker demand and is bearish for crude prices. The same can be said if a decline in inventories is less than expected.

If the increase in crude is less than expected, it implies greater demand and is bullish for crude prices. The same can be said if a decline in inventories is more than expected.

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