Today sees the president of the ECB, Mario Draghi, make a speech regarding financial stability. Given his position as the head of the European Central Bank, markets watch his speeches closely for clues as to how the EU economy is responding to the current momentary policy and for any potential actions the ECB may take in regards to monetary policy in the future. Should he strike an optimistic tone, we will see EUR strengthen as traders buy the currency, while a more pessimistic tone, will see the EUR sold off as traders` price in the new information.

During the day, we turn to crude oil as the US releases its crude oil inventories just ahead of the all-important OPEC meeting. The release represents the number of barrels of crude oil held in inventory by US commercial firms during the past week and is regarded as key determinant of the supply and/or demand of crude oil in the US. A larger than expected build implies that there is an oversupply or under demand of crude oil which will drag the price of crude lower towards the $45 mark. However, if the figure is smaller than expected, we will see crude oil prices move higher, towards the $55, as trader’s price in the increased demand or decreased supply of the commodity.

During the day, we turn to crude oil as the US releases its crude oil inventories just ahead of the all-important OPEC meeting. The release represents the number of barrels of crude oil held in inventory by US commercial firms during the past week and is regarded as key determinant of the supply and/or demand of crude oil in the US. A larger than expected build implies that there is an oversupply or under demand of crude oil which will drag the price of crude lower towards the $45 mark. However, if the figure is smaller than expected, we will see crude oil prices move higher, towards the $55, as trader’s price in the increased demand or decreased supply of the commodity.