Week 30 economic events: what to watch

Tuesday, 23 July

ECB President Lagarde Speaks (10:15 AM GMT)

This is one of the most anticipated events of the week. Christine Lagarde, the President of the European Central Bank, will be addressing the economic outlook, and traders worldwide will be hanging on her every word. Here’s what you need to consider:

• Lagarde's comments will be dissected for any hints regarding future interest rate hikes. Given the recent inflation data, the tone of her speech could shift market expectations.
•   Hawkish Stance (leaning towards raising rates) could boost the Euro and favor value stocks in the Eurozone. Growth stocks might take a slight hit.
•   Dovish Stance (maintaining or lowering rates) could weaken the Euro, providing a boost to growth stocks anticipating a more stimulative environment.

If you’re trading the Euro or European stocks, Lagarde’s speech could present a golden opportunity. Make sure you’re ready to react!

Wednesday, 24 July

Natural Gas Storage (USD) (10:30 AM EDT)

The Natural Gas Storage report is another critical event to watch. Last week’s data showed a draw of 88 billion cubic feet (bcf) from storage, exceeding the estimated draw of 78 bcf. Here’s how this week might play out:

•   A larger-than-expected draw could push natural gas prices higher, potentially benefiting natural gas producers' stocks.
•   A smaller-than-expected draw or an injection could lead to lower natural gas prices, potentially impacting energy companies negatively.

This report can create significant ripples in the energy sector, making it a must-watch for anyone involved in energy stocks or commodities.

More ongoing storylines to watch

While there are no major releases on Thursday or Friday, don’t get too comfortable. Several continuing storylines could cause market fluctuations.

The ongoing war in Ukraine and any potential trade disputes could cause significant market volatility. Stay alert and ready to adjust your positions based on the latest news developments.

Conclusion

As always, while economic releases and events present exciting opportunities, they also come with risks. Market reactions can be unpredictable and don’t always unfold in logical ways. Keep your strategies flexible and be cautious of overcommitting based on anticipated outcomes. 

Be sure to use your mobile trading app next week. The market's response to economic data and geopolitical events can be swift and severe, so always have a risk management plan in place and the possibility to react without delay.