Upcoming economic events 28 August 2024

Time(GMT+0/UTC+0)	State	Importance	Event	Forecast	Previous
01:30		2 points	Construction Work Done (QoQ) (Q2)	0.6%	-2.9%
05:15		2 points	Fed Waller Speaks	———	———
10:00		2 points	Eurogroup Meetings	———	———
14:30		3 points	Crude Oil Inventories	———	-4.649M
14:30		2 points	Cushing Crude Oil Inventories	———	-0.560M
17:00		2 points	5-Year Note Auction	———	4.121%
22:00		2 points	FOMC Member Bostic Speaks	———	———

Summary of Upcoming Economic Events on August 28, 2024

1. Australia Construction Work Done (QoQ) (Q2) (01:30 UTC): Quarterly change in the total value of construction work completed. Forecast: +0.6%, Previous: -2.9%.
2. Fed Waller Speaks (05:15 UTC): Comments from Federal Reserve Governor Christopher Waller, potentially providing insights into the Fed’s economic outlook and monetary policy.
3. Eurogroup Meetings (10:00 UTC): Meeting of Eurozone finance ministers to discuss economic policies and financial stability within the Eurozone.
4. US Crude Oil Inventories (14:30 UTC): Weekly change in the number of barrels of crude oil held in inventory by commercial firms. Previous: -4.649M.
5. US Cushing Crude Oil Inventories (14:30 UTC): Weekly change in crude oil stocks at the Cushing, Oklahoma storage hub. Previous: -0.560M.
6. US 5-Year Note Auction (17:00 UTC): Auction of 5-year US Treasury notes. Previous Yield: 4.121%.
7. FOMC Member Bostic Speaks (22:00 UTC): Remarks from Atlanta Fed President Raphael Bostic, offering insights into the Fed’s policy stance and economic outlook.

Market Impact Analysis

• Australia Construction Work Done: An increase suggests recovery in the construction sector, supporting AUD and signaling economic growth. A decrease may indicate ongoing challenges in the sector.
• Fed Waller Speaks: Any comments on future monetary policy or economic conditions can influence market expectations and impact USD. Hawkish comments may boost USD, while dovish comments could support equities.
• Eurogroup Meetings: Discussions may influence EUR, particularly if significant economic policies or financial stability measures are announced.
• US Crude Oil and Cushing Inventories: Lower inventories generally support higher oil prices, while higher inventories can lead to price declines. These figures are closely watched for insights into supply and demand dynamics.
• US 5-Year Note Auction: Investor demand for 5-year Treasury notes can impact bond yields and market sentiment. High demand usually supports bond prices and lowers yields, while low demand could have the opposite effect.
• FOMC Member Bostic Speaks: Insights from Bostic can affect expectations for Fed policy, influencing USD and market sentiment.

Overall Impact

• Volatility: Moderate, with potential reactions in equity, bond, currency, and commodity markets, especially from oil inventory data and Fed communications.
• Impact Score: 6/10, indicating moderate potential for market movements.