Everybody Awaits Powell’s Speech And Crude Oil Inventories! How Will Dollar Index (DXY) And Crude Oil Price React?

Oil jumps, gold under pressure | Oanda

Even if the ongoing week is not that tempting as the previous one was, there are still many events to follow. The most awaited are surely Fed’s Chair Testimony and Crude Oil Inventories as these can affect dollar exchange rate. In Great Britain BoE’s Bailey testifies as well so the pair GBP/USD can interact with both events.

Morning-noon – 22/03/22

As always Britons wake up very early in the morning at 7 a.m. to announce CPI (YoY) which previously amounted to 5.5% At noon Bailey grabs the mic to and is expected to release a sneak-peak of BoE’s monetary policy.

Bailey Feat. Powell we may say as at the same time in the US Jerome Powell testifies.

Afternoon – 22/03/22

Half an hour later (at 12:30 p.m.) UK Annual Budget is released, at 2 p.m. it’s time to meet the US New Home Sales of February (prev. 801K). After this one Crude Oil Inventories indicator goes public – the previous value was 4.345M.

Everybody Awaits Powell’s Speech And Crude Oil Inventories! How Will Dollar Index (DXY) And Crude Oil Price React? - 1

Data/Source: Investing.com Economic Calendar

Time: GMT

Oil jumps, gold under pressure | Oanda

Mikołaj Marcinowski

Business Development Manager FXMAG

Journalist, finance passionate