Economic calendar: Oil drama continues with G20 meeting in spotlight

  • Meeting of G20 energy ministers

  • Most equity markets shut for holiday already

The final day of the trading week has arrived. However, many markets are already shut for Easter holiday so traders should expect muted trading and reduced liquidity today. Every major European index and every major US index will remain shut today. Apart from that, most commodities, including oil and gold, will not trade as well. This leaves traders with FX pairs and cryptocurrencies today.

However, there are some events scheduled for today that are worth paying attention to. The most important one is the meeting of G20 energy ministers (scheduled to start at 1:00 pm BST). Let us recall that OPEC+ failed to agree on broad output cuts yesterday after Mexico abandoned talks. Nevertheless, there is a mutual consent among other OPEC producers so there surely will be some attempts to persuade Mexico today. As a word of caution it should be said that oil markets are already closed for Easter holidays therefore reaction will not be seen until Monday.

Macro readings scheduled for release today:

1:30 pm BST - US, CPI inflation for March. Expected: 1.6% YoY. Previous: 2.3% YoY

Central bankers' speeches:

  • 5:30 pm BST - Fed's Mester

  • 6:30 pm BST - Fed's Quarles

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Morning wrap
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