Today we do not have much economic data which may impact the market.
USD: 10-y Bond Auction at 11:31 PM
Measures: Highest yield on 10-year bonds the government sold at auction, and the bid-to-cover ratio of the auction
Conducted monthly
Next Release Date Feb 8, 2023
Auction results are reported in an ‘X.XX|X.X’ format – the first number is the highest interest rate of the bonds sold, and the second number is the bid-to-cover ratio (number of bids made per bid accepted)
Yields are set by bond market investors, and therefore they can be used to decipher investors’ outlook on future interest rates. The bid-to-cover ratio represents bond market liquidity and demand, which can be used to gauge investor confidence
USD: Crude Oil Inventories at 9:00 PM
Measures: Change in the number of barrels of crude oil held in inventory by commercial firms during the past week
Released weekly, 4 days after the week ends
Next Release Date : Jan 19, 2023
While this is a US indicator, it most affects the loonie due to Canada’s sizable energy sector
It’s the primary gauge of supply and demand imbalances in the market, which can lead to changes in production levels and price volatility
Forecast- [-2.0M ]
Previous-[ 1.7M ]
Actual- ?
Impact –The forecast figure seems to be negative for crude oil.
The actual figure to released at 9:00 pm.
Source: Forex Factory
For more economic updates stay tuned with us!