Global Economic Calendar – Its all about the ECB

The economic agenda for the day begins with the unemployment report from Australia which came in at a higher than expected value of 5.8% which shows that the economy continues to struggle amid the risks in China and the falling commodity prices. Then follows the big news of the day in the ECB press conference and interest rate decision though not much change in expected in the rates or in the views of the ECB.

Then, close to the US session, we have the unemployment claims and housing starts and with Yellen stating the the Fed is likely to hike rates on continuing good data, this is something that is likely to be watched closely.  We then have the crude oil inventory data from the US which is expected to show a build of only 0.1 million barrels and if this comes out as per expectations or below, then it would be helpful to push the oil prices higher.