ECB President Lagarde to Deliver Speech Today

ECB President Lagarde to Deliver Speech Today

The market participants and analysts who are dealing with euro quotes will be closely monitoring the speech given by Christine Lagarde, the President of the European Central Bank. The official position of the ECB will be reflected in the speech given by Lagarde. Henceforth, every speech delivered by the president should be carefully examined. As per the sources from the European Central Bank, the speech will be delivered on Thursday at 11:45 GMT.

When Lagarde's speech implies future monetary policy moves, the euro will get a short-term boost. It might be about tightening or loosening.

EIA Crude Oil Stocks Change to be Announced Today

The weekly release of the US Energy Information Administration will be unveiling the EIA Crude Oil Stocks Change on Thursday at 14:30 GMT. Financial experts are expecting them to have an increase of 1.175 M. Meanwhile, when the indicator that determines the number of barrels of commercial crude oil stocked by US companies was disclosed on 10th Apr 2024 at 14:30 GMT, it stood at 5.841 M in place of the estimated figure of 1.211 M. 

Since the change in the values of the indicator impacts world oil prices, market participants who are associated with the energy sector of the market are recommended to be alert during the release of the indicator. It is suggested so as the increase in the values of the indicator will have a negative effect on the oil barrel price. Such a rise in the figures indicates a weaker demand for oil.