The second week of February will bring in a flow of statistics well known by the investors but the attention may be focused on the speeches of the heads of the US Fed and the European central bank. The emotions of the market players evoked by the coronavirus situation are subsiding giving room to other catalysts.
Brent: reactions to the report of the International Energy Agency are possible
This week, the IEA is publishing another report on the oil market. It was earlier reported that in December 2019 the world demand for oil grew by 995 thousand barrel daily, which is 101.1 million barrel daily calculated per annum. In the fourth quarter, the interest to the crude material grew by 1.9 million barrel daily compared to the same period of 2018. Now the numbers for January will be curious to see as they may reflect a decrease in the demand for oil. For Brent, this may become a local pressure factor. This week's range is 53.50-55.90 USD per barrel.
The US and China will stimulate the interest to risk
At the end of the week, as a part of the first phase of the trade agreement between the US and China, the two countries are expected to announce a decrease in the import fees for each other. If this happens (and we have our doubts about the perspective), risky assets on the stock and currency markets will get a reason for growth. The event may be positive for the euro, for example, and a number of the currencies of developing economies.
The USD: focused on Powell's speech
This week, the dollar is going to be focused on the speech of the head of the Fed Jerom Powell. He will be speaking before the Committee for financial services of the House of Representatives. The report will cover six months and be devoted to monetary policy. Almost the same will be later reported to the Senat. This year, the market is waiting for averagely one factor of decreasing the interest rate, and any hints on this from the Fed will be immediately integrated in the USD quotations.
The EUR: Lagarde will assess the economy
Christine Lagarde, the head of the European central bank, will deliver a speech before the European Parliament this week. Her comments are expected to touch upon the evaluations of the world economy on the whole and the European economy in particular. What is more, the market is expecting Lagarde's speech to indicate or hint on the next ECB steps in its credit and monetary policy. The more neutral the speech, the calmer the EUR will be.
Gazprom: Investor day in New York
On Tuesday, February 11th, PJSC Gazprom will organize Investor day in New York. In 2019, the company carried out such events twice; they are important for attracting new investors and partners as well as for the company's transparency enhancement. The Gazprom stocks are yet unable to escape the channel between 224-235 RUB, the sellers are yet dominating, clearly leading the security to the lower border of the short-term trading range.