As traders approach another pivotal day for financial markets on Wednesday, November 20, 2024, a series of crucial economic data releases and commentary are expected from the Federal Reserve that could impact market dynamics. The spotlight will be on the Energy Information Administration’s (EIA) weekly inventory report and a speech from Federal Reserve Governor Michelle Bowman, both of which have the potential to influence market sentiment and trading decisions.
Key economic events to watch:
• 10:30 a.m. ET – EIA crude oil inventories: Weekly change in commercial barrels of crude oil held by U.S. companies, ahead of 2.089 million
• 1:15 PM ET – FOMC Member Bowman Speaks: Federal Reserve Governor’s Public Engagement, Often Used to Provide Insight into Future Monetary Policy
Other major economic events to watch:
• 10:30 a.m. ET – EIA Weekly Cushing Oil Inventories: Change in barrels of crude oil stored in Cushing, Oklahoma, previously -0.688 million
• 2:00 PM ET – 20-year bond auction: Treasury auction results, previously 4.590%
Other economic events to watch:
• 7:00 AM ET – MBA 30-year mortgage rate: Fixed 30-year mortgage rate, previously 6.86%
• 7:00 AM ET – MBA Mortgage Applications: Weekly change in new mortgage applications, previous 0.5%
• 7:00 AM ET – MBA Purchase Index: Applications to purchase single-family homes, previously 133.3
• 7:00 AM ET – Mortgage Market Index: All mortgage applications during the week, previously 192.4
• 7:00 AM ET – Mortgage Refinancing Index: Applications to refinance existing mortgages, formerly 506.0
• 10:30 AM ET – EIA Refinery Crude Runs: Weekly change in crude oil processed by refineries, previous 0.175 million
• 10:30 a.m. ET – EIA weekly distillate inventories: Distillate fuel oil inventory levels, previously -1.394 million
• 10:30 AM ET – EIA Weekly Crude Oil Imports: Weekly change in crude oil imports, previously -0.321 million
• 10:30 ET – Gasoline inventories: Change in commercial gasoline inventory levels, previously -4.407 million
• 10:30 AM ET – EIA Weekly Gasoline Production: Weekly change in gasoline production, previously 0.559 million
• 10:30 AM ET – EIA Weekly Heat Oil Inventory: Weekly change in inventory, previous -1.060 million
• 10:30 ET – EIA Weekly Distillate Fuel Production: Weekly change in distillate fuel production, previously -0.127 million
• 10:30 a.m. ET – EIA Weekly Refinery Utilization Rates: Percentage of used refinery operating capacity, previously 0.9%
• 11:00 AM ET – Fed Governor Cook Speaks: Public Remarks from the Governor of the Federal Reserve
For more information and the latest updates, please consult our Economic Calendar here.
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