Brent crude fell during Asian markets as attention centred on an EU meeting today to discuss the debt crisis and complete a EUR 500bn rescue package.
(All times GMT):
Wednesday 1st February
13:15 – US ADP non farm employment change: Employment is forecast to have risen by 190k over the past month, against a an increase the previous month of 325k. Changes in employment reported by the ADP index have exceeded expectations in 6 of the past 7 months. The latest report can be found here. A higher than expected reading is bullish for the dollar, bearish for commodities.
15:00 – US ISM Manufacturing Index: Assesses conditions across 400 purchasing managers across the US. The index is forecast at 54.5 in January (over 50 indicating an expansion in output), up from 53.9 the previous month. A higher than expected reading is bullish for the dollar. Latest report available here.
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 January 20th. The Latest report will be available here.
Thursday 2nd February
13:30 – US initial jobless claims: Jobless claims are forecast at 373k in the past week, down from 377k the previous week.
15:00 – US FOMC chairman Bernanke speaks before Joint Economic Committee.
Friday 3rd February
13:30 – US non farm payrolls: Employment is forecast to have risen by 150k in the past month, down from 200k the previous month. The ADP employment estimates on Wednesday may given an indication of the magnitude of the US government data employment estimate.
13:30 – US unemployment rate: Unemployment is forecast at 8.5% in January, unchanged from December 2011. The unemployment rate has equalled or been lower than forecast for the past 6 months. The latest report can be found here.
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 Live Economic Calendar