Breaking News
Investing Pro 0
NEW! Get Actionable Insights with InvestingPro+ Try 7 Days Free

Economic Calendar - Top 5 Things to Watch This Week

Economy Sep 15, 2019 06:25AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.
 
USD/JPY
+0.45%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
EUR/CHF
-0.44%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
FDX
-1.65%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
LCO
-0.53%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
CL
-0.76%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

Investing.com - Oil prices will react when markets open after an attack on a key Saudi production facility, amid uncertainty over how much global supply will be disrupted. Investors are also bracing for another interest rate cut from the Federal Reserve this week, as well as a flurry of rate decisions from other world central banks.

Here’s what you need to know to start your week.

  1. Oil set to jump after Saudi attack

Saturday's attacks on key Saudi Arabia processing plants will test the world's ability to handle a supply crisis as it faces the temporary loss of more than 5% of global supply from the world's biggest crude exporter.

The U.S. has blamed Iran for the attack, which will cut Saudi production by about 5.7 million barrels per day (bpd), more than half of the kingdom's output, according to a statement from state-run Saudi Aramco.

Crude prices could spike by several dollars per barrel when markets open Sunday night as a prolonged outage could prompt the U.S. and other countries to release crude from their strategic petroleum reserves to boost commercial stocks globally.

"Oil prices will jump on this attack, and if the disruption to Saudi production is prolonged, an SPR release ... seems likely and sensible," said Jason Bordoff, founding director of the Center on Global Energy Policy at Columbia University in New York.

  1. Fed set to cut rates again

The Fed is widely expected to lower interest rates again at the conclusion of its two day policy meeting on Wednesday, in order to offset risks to the U.S. economy from trade tensions between Beijing and Washington, Brexit and a broad global slowdown.

Investors are pricing in a 78.5% chance of a quarter-point rate cut, according to Investing.com. The Fed cut rates for the first time in over a decade in July.

“We think the Fed will come down in favor of cutting rates 25bp again in what will be described as an insurance move against the headwinds facing the economy”, analysts at ING wrote in a note. “Moreover, a Fed rate cut will help to mitigate upward pressure on the U.S. dollar given policy loosening seen from the likes of the ECB.”

  1. Central bank ‘Super Thursday’

Thursday brings policy meetings in Japan, the U.K., Norway and Switzerland in the wake of Wednesday’s Fed decision and last week’s stimulus package from the European Central Bank.

The Bank of Japan is expected to keep interest rates unchanged unless the Fed decision jolts markets and triggers a spike in the yen.

Switzerland, with a -0.75% interest rate, is quiet so far on the prospect of emulating ECB easing but will be concerned at the franc's surge to two-year highs versus the euro.

The Bank of England is not expected to make any changes, but its rate statement will be closely watched for any concerns over the economic fallout from Brexit.

The central bank of Norway could hike again, but with easing gathering steam all around, it is very likely to mark the end of its tightening cycle.

  1. Trade hopes

Junior U.S. and Chinese officials meet in the coming week ahead of planned talks between senior trade negotiators in early October and investors will be on the lookout for any indications that relations between the two sides are thawing.

Beijing exempted some agricultural products from additional tariffs on U.S. goods last week and President Donald Trump postponed a tariff increase on certain Chinese goods by two weeks.

Economic data from China on Monday, including reports on industrial production, retail sales and fixed asset investment will provide some insight into how the world’s second largest economy is bearing up amid the protracted trade war.

  1. Economic data, earnings

The economic calendar will bring an update on the health of the U.S. housing market, with reports on housing starts and existing home sales. Global shipping giant FedEx (NYSE:FDX), considered a bellwether for the U.S. economy, is due to report earnings on Tuesday.

In the Eurozone, a report on Germany’s ZEW index on Tuesday will offer more insight on whether the bloc’s largest economy is on track for a recession after contracting slightly in the second quarter.

The U.K. is to release data on CPI, while Canada is to report on CPI and retail sales.

-- Reuters contributed to this report

Economic Calendar - Top 5 Things to Watch This Week
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (7)
Taylor Sun
Taylor Sun Sep 15, 2019 8:17PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Thanks for sharing
shaikh uzaif
shaikh uzaif Sep 15, 2019 3:10PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
drama
Fidelis Msacky
Fidelis Msacky Sep 15, 2019 2:42PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
It'll make more sense if the fed held steady. A cut is not necessary at this time.
Tsagaankhuu Amarsaikhan
Tsagaankhuu Amarsaikhan Sep 15, 2019 10:02AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
It will be increase oil price 5-10 percent
Rabih Abdallah
Rabih Abdallah Sep 15, 2019 10:02AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
i will pray for that i bought oil on 55.05
Jason Patcher
Jason Patcher Sep 15, 2019 9:40AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Two days after Bolton was fired, maybe he is right.
Nhlakanipho Manana
Nhlakanipho Manana Sep 15, 2019 8:13AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
so oil is going up what about NASDAQ
Ron Warren
Ron Warren Sep 15, 2019 8:13AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Sure it will!! good news, bad news. it doesn't matter. AI likes to run green!!
TA XVCI
TA XVCI Sep 15, 2019 8:04AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
They will raise the rate.
Seoul Pekin
eSP500 Sep 15, 2019 8:04AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Who do you expect to raise their rate and why?
TA XVCI
TA XVCI Sep 15, 2019 8:04AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Seoul Pekin Because the economy is good and no reason for cut. They only cut when to stimulate the market. My theory.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email