The US Fed Funds Rate announcement and Press Conference will be at 21:00 MT on January 29.
Will the US crude oil inventories push the USD up?
The American Crude Oil inventories will be announced at 18:00 MT time on December 27.
In view of the OPEC’s last meeting and the ongoing discussions around the world oil production and prices, the American crude oil inventories are an important figure to watch out for. Although it is not a prime indicator like a total US crude oil output, still, it has an impact on the market, especially on the CAD after the USD, due to the robust energy sector of Canada connected with the US. While the USD rises on the expansion of this indicator, the influence on the CAD is inverted; decreasing American oil inventories would put the USD under pressure down and support the CAD.
- If the figures are higher than expected, the USD will be supported;
- If the figures are lower than expected, the USD will be under pressure down.
A change in retail sales is one of the most important economic indicators for the US economy and the USD.
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Canadian jobs data will be announced on Thursday at 15:30 MT time.
RBA Rate Statement is released on Tuesday at 07:30 MT time.
The US Non-farm payrolls, also known as NFP, will be published on April 3, at 15:30 MT time.