Economic-News-2018-03-06

 

EXPLANATION OF THE ECONOMIC NEWS

 

  1. Federal Reserve Bank of New York he serves as the vice chairman and a permanent member of the Federal Open Market Committee (FOMC) voting member (2009 – 2013) William C. Dudley is to speak. FOMC members are responsible for setting the benchmark interest rate and their speeches are closely watched for indications on the future possible direction of monetary policy. His comments may determine a short-term positive or negative trend.

 

  1. Factory Orders measures the change in the total value of new purchase orders placed with manufacturers. The report also includes a revision of the Durable Goods Orders data released about a week earlier as well as data new data on non-durable goods orders. 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.

 

  1. Bank of England (BoE) Monetary Policy Committee (MPC) Member Andy Haldane 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.

 

  1. The American Petroleum Institute reports inventory levels of US crude oil, gasoline and distillates stocks. The figure shows how much oil and product is available in storage.The indicator gives an overview of US petroleum demand. 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.