Commodity Risk Economic Calendar – 20th – 24th February

(All times GMT):

Wednesday 22nd February

09:30 – UK MPC meeting minutes: Traders will be analysing the minutes for indications of the degree of consensus towards QE. This follows the central banks recent extension of the scheme by £50bn.

15:00 – US existing home sales: This data measures the annualised change in existing home sales in the previous month.The February report is forecast to show that 4.67 million homes changed hands, up from 4.61 million in the January report.

15:30 – EIA Crude Oil Market Report: The EIA (Energy Information Administration) will publish its weekly report on the U.S oil and petroleum market for the week ending on February 17th. Last week crude stocks were reported to have decreased by 200,000 barrels to 339.1 million barrels, against expectations of a 1.6 million barrel build. The Latest report will be available here.

us crude stocks 10 feb

Thursday 23rd February

09:00 – Germany IFO Business Climate Index: The index rates the current German business climate and expectations for the next 6 months. The February report is expected to show a reading of 108.8, up from 108.3 in the previous month. The last 5 months have seen data better than expected, if this occurs again if would be seen as bullish for the Euro.

13:30 – US initial jobless claims: Jobless claims are forecast at 355k in the past week, up from 348k the previous week.

Friday 17th February

07:00 – German GDP: The latest estimate of German 2011Q4 GDP will be released and is expected to show no change from the earlier estimate of a 0.2% contraction.

09:30 – UK GDP: The latest estimate of UK 2011Q4 GDP will be released and as with Germany is expected to show no change from the earlier estimate of a 0.2% contraction.

15:00 – US new home sales: New home sales forecast at 315k in the February report, up from 307k in January.

20:30 Commitment of Traders report: Data from CFTC provides a breakdown of the previous Tuesday’s open interest and net direction of bets. Latest report will be available here. and crude and cotton charts here.

For more detailed information please see the Economic Calendar and for daily commentary on events in crude and cotton futures markets visit our Market Commentary section.

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