Daily Market Snap (Feb 8th) – Today’s Top 3 Economic Calendar Announcements

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 1:15 PM GMT Canadian Housing Starts

At 1:15 PM GMT, the Canadians release the Housing Starts announcement, expected to be an addition of 200,000 homes. A stronger-than-expected number could be good for the Canadian dollar while a negative number could be slightly negative for the currency.

 3:30 PM GMT Crude Oil Inventories

At 3:30 PM GMT, the US Crude Oil Inventories announcement comes out, expected to be a gain of 2.38 million barrels. A number higher than that will be extraordinarily bearish for the oil markets, while a lower number could be positive.

8 PM GMT New Zealand Interest Rate Decision

At 8 PM GMT, the Royal Bank of New Zealand releases and interest rate decision, and although it is anticipated to be no change, traders will parse the accompanying monetary policy statement. The main reason for this is that the New Zealand economy is heavily influenced by commodities, which signifies worldwide growth. If they have an increasingly hawkish stance, that could be good for the New Zealand dollar as well as many other risk assets around the world.

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