Upcoming economic events 21 August 2024

Time(GMT+0/UTC+0)	State	Importance	Event	Forecast	Previous
14:30		3 points	Crude Oil Inventories	———	1.357M
14:30		2 points	Cushing Crude Oil Inventories	———	-1.665M
17:00		2 points	20-Year Bond Auction	———	4.466%
18:00		3 points	FOMC Meeting Minutes	———	———

Summary of Upcoming Economic Events on August 21, 2024

1. US Crude Oil Inventories (14:30 UTC): Weekly change in the number of barrels of crude oil held in inventory by commercial firms. Previous: +1.357M.
2. US Cushing Crude Oil Inventories (14:30 UTC): Weekly change in crude oil stocks at the Cushing, Oklahoma storage hub. Previous: -1.665M.
3. US 20-Year Bond Auction (17:00 UTC): Auction of 20-year US Treasury bonds. Previous Yield: 4.466%.
4. FOMC Meeting Minutes (18:00 UTC): Detailed record of the Federal Reserve’s most recent meeting, providing insights into economic conditions and the rationale behind monetary policy decisions.

Market Impact Analysis

• US Crude Oil and Cushing Inventories: Increases in inventories can lead to downward pressure on oil prices, while decreases typically support higher prices. Market reactions will depend on how the data compares to expectations.
• US 20-Year Bond Auction: The demand for 20-year Treasury bonds and the yield rate can influence bond markets. High demand typically supports bond prices and lowers yields, while low demand can raise yields and impact equity markets.
• FOMC Meeting Minutes: Investors closely watch the minutes for any hints about future monetary policy, especially regarding interest rate paths and the Fed’s outlook on inflation and economic growth. Hawkish signals could strengthen USD and raise bond yields, while dovish signals might boost equities.

Overall Impact

• Volatility: High, with significant potential reactions in commodity, bond, and equity markets, particularly following the release of the FOMC Meeting Minutes.
• Impact Score: 8/10, indicating a high potential for market movements.