Upcoming economic events 7 August 2024

Time(GMT+0/UTC+0)	State	Importance	Event	Forecast	Previous
14:30		3 points	Crude Oil Inventories	———	-3.436M
14:30		2 points	Cushing Crude Oil Inventories	———	-1.106M
15:06		2 points	Exports (YoY) (Jul)	———	8.6%
15:06		2 points	Imports (YoY) (Jul)	———	-2.3%
15:06		2 points	Trade Balance (USD) (Jul)	———	99.05B
17:00		3 points	10-Year Note Auction	———	4.276%
19:00		2 points	Consumer Credit (Jun)	11.50B	11.35B
19:30		2 points	ECB McCaul Speaks	———	———
23:50		2 points	Adjusted Current Account (Jun)	2.29T	2.41T
23:50		2 points	Current Account n.s.a. (Jun)	1.790T	2.850T

Summary of Upcoming Economic Events on August 7, 2024

1. US Crude Oil Inventories: Weekly change in the number of barrels of crude oil held in inventory by commercial firms. Previous: -3.436M.
2. US Cushing Crude Oil Inventories: Weekly change in crude oil stocks at the Cushing, Oklahoma storage hub. Previous: -1.106M.
3. China Exports (YoY) (Jul): Annual change in the value of exports. Previous: +8.6%.
4. China Imports (YoY) (Jul): Annual change in the value of imports. Previous: -2.3%.
5. China Trade Balance (USD) (Jul): Difference between exports and imports. Previous: 99.05B.
6. US 10-Year Note Auction: Investor demand for 10-year US Treasury notes. Previous Yield: 4.276%.
7. US Consumer Credit (Jun): Change in the total value of outstanding consumer credit. Forecast: +11.50B, Previous: +11.35B.
8. ECB McCaul Speaks: Comments from a European Central Bank official, providing insights into economic and policy outlook.
9. Japan Adjusted Current Account (Jun): Balance of current transactions, including goods, services, and interest payments. Forecast: 2.29T, Previous: 2.41T.
10. Japan Current Account n.s.a. (Jun): Non-seasonally adjusted current account balance. Forecast: 1.790T, Previous: 2.850T.

Market Impact Analysis

• US Crude Oil Inventories: Lower inventories support oil prices; higher inventories could pressure prices downwards.
• China Trade Data: Strong export growth and a positive trade balance support CNY; weaker import data may indicate domestic economic concerns.
• US 10-Year Note Auction: Strong demand supports bonds and lowers yields; weak demand could raise yields and impact equities.
• US Consumer Credit: Rising consumer credit suggests strong consumer spending, supporting USD and economic growth.
• ECB McCaul Speaks: Comments could provide insights into future ECB policy, influencing EUR and Eurozone markets.
• Japan Current Account: A surplus supports JPY; significant changes indicate shifts in trade and investment flows.

Overall Impact

• Volatility: Moderate to high, with significant potential reactions in equity, bond, commodity, and currency markets.
• Impact Score: 7/10, indicating a high potential for market movements.