Upcoming economic events 23 July 2024

Time(GMT+0/UTC+0)	State	Importance	Event	Forecast	Previous
07:00		2 points	ECB’s Lane Speaks	———	———
10:00		2 points	Eurogroup Meetings	———	———
14:00		2 points	Existing Home Sales (MoM) (Jun)	———	-0.7%
14:00		3 points	Existing Home Sales (Jun)	3.99M	4.11M
17:00		2 points	2-Year Note Auction	———	4.706%
20:30		2 points	API Weekly Crude Oil Stock	0.700M	-4.440M

Summary of Upcoming Economic Events on July 23, 2024

1. ECB’s Lane Speaks: Insights into the European Central Bank’s economic outlook and policy stance.
2. Eurogroup Meetings: Discussions by Eurozone finance ministers on economic policies.
3. US Existing Home Sales (MoM) (Jun): Monthly change in the number of existing homes sold. Previous: -0.7%.
4. US Existing Home Sales (Jun): Total number of existing homes sold. Forecast: 3.99M, Previous: 4.11M.
5. US 2-Year Note Auction: Investor demand for 2-year US Treasury notes. Previous: 4.706%.
6. API Weekly Crude Oil Stock: Weekly change in US crude oil inventories. Forecast: 0.700M, Previous: -4.440M.

Market Impact Analysis

• ECB’s Lane Speaks: Comments could provide insights into future ECB policy; dovish remarks may reassure markets, while hawkish comments could increase volatility.
• Eurogroup Meetings: Expected discussions maintain stability; unexpected outcomes or policy changes could impact the euro (EUR) and Eurozone markets.
• US Existing Home Sales (MoM) and (Jun): Declining sales indicate a cooling housing market, potentially impacting USD and related sectors; stable or increasing sales support economic confidence.
• US 2-Year Note Auction: Strong demand for 2-year notes suggests investor confidence in short-term US debt, supporting bonds and potentially lowering yields; weak demand could raise yields and impact equity markets.
• API Weekly Crude Oil Stock: Increasing crude oil stocks could pressure oil prices downwards; decreasing stocks may support prices.

Overall Impact

• Volatility: Moderate, with potential reactions in equity, bond, and commodity markets.
• Impact Score: 5/10, indicating moderate potential for market movements.