FED CHAIR YELLEN TESTIFIES @ 20.30 IST
Federal Reserve Chair Jannet Yellen (February 2014 – February 2018) is to testify on the economic outlook and recent monetary policy actions before the Joint Economic Committee, in Washington DC. The testimony is in two parts; the first is a prepared statement, then the committee conducts a question and answer session. The Q&A portion of the testimony can see heavy market volatility for the duration.
CRUDE OIL INVENTORIES @ 21 IST
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.
US FOMC MEMBER WILLIAMS SPEAKS @ 00:00 AM
San Francisco Federal Reserve Bank PresidentJohn Williams speech on health and the economy, in Los Angeles.
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