FX.co ★ Traders economic calendar. Period: Yesterday

OPEC meetings are attended by representatives from 13 oil-rich nations. They discuss a range of topics regarding energy markets and agree on how much oil they will produce. OPEC is responsible for nearly 40% of the world's oil supply.

Monetary aggregates, known also as "money supply", is the quantity of currency available within the economy to purchase goods and services. Depending on the degree of liquidity chosen to define an asset as money, various monetary aggregates are distinguished: M0, M1, M2, M3, M4, etc. Not all of them are used by every country. Note that methodology of calculating money supply varies between countries. M2 is a monetary aggregate that includes all physical currency circulating in the economy (banknotes and coins), operational deposits in central bank, money in current accounts, saving accounts, money market deposits and small certificates of deposit. Excess money supply growth potentially can cause inflation and generate fears that the government may tighten money growth by allowing the interest rates to rise which in turn, lowers future prices.

Total Credit is an economic calendar event that represents the overall level of credit provided by banks and other financial institutions in Oman. This figure is a crucial indicator of the health and growth of the country's financial sector as it provides insight into lending activities and overall market liquidity.

A rise in the Total Credit signifies an expansion in the economy, indicating that businesses and consumers are borrowing more to finance their spending, investment, and expansion plans. On the other hand, a decline in the Total Credit level may signal a slowdown in borrowing due to factors such as high interest rates or increased risk aversion among lenders and borrowers.

Investors and economic analysts closely monitor the Total Credit figure as it provides vital information on the current state of Oman's economy and its future prospects. It can also influence the country's monetary policy decisions, such as the Central Bank's decisions on interest rates, reserve requirements, and other measures to maintain economic stability and foster growth.

Official reserve assets comprises foreign currency reserves, IMF reserve position, SDRs and gold. A higher than expected number should be taken as positive to the JPY, while a lower than expected number as negative.