Economic News 2018-02-12

 

EXPLANATION OF THE ECONOMIC NEWS

 

  1. Gertjan Vlieghe serves as a member of the Monetary Policy Committee (MPC) of the Bank of England. His public engagements are often used to drop subtle clues regarding future monetary policy.

 

  1. The OPEC Monthly Oil Market Report covers major issues affecting the world oil market and provides an outlook for crude oil market developments for the coming year. The report provides a detailed analysis of key developments impacting oil market trends in world oil demand, supply as well as the oil market balance.

 

  1. Bank of England (BOE) Monetary Policy Committee (MPC) Member Ian McCafferty (since September 2012) is to speak. BOE MPC members are responsible for setting the benchmark interest rate and their speeches often contain indications on the future possible direction of monetary policy. His comments may determine a short-term positive or negative trend.

 

  1. The Federal Budget Balance measures the difference in value between the federal government’s income and expenditure during the reported month. A positive number indicates a budget surplus, a negative number indicates a deficit. 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.