Oil Inventories to Show a Draw

25 April, 2018

At 08:00 GMT, Swiss ZEW Survey – Expectations (Apr) are expected to be released with a prior reading of 16.7. This data has been weakening since a reading of 52.0 was recorded in December 2017. A reading under 16.7 has not been recorded since December 2016. This illustrates a drop in economic expectations in Switzerland. CHF crosses may see a spike in volatility should the data differ from the expected consensus.

At 14:30 GMT, US EIA Crude Oil Stocks Change (Apr) data will be released with an expectation for a draw of -2.043M barrels, against a previous reading of -1.071M barrels. This data has played its part in sending oil prices higher this month, as supply and demand take over. Seasonally, there is a draw on stocks into high summer, then a recovery before winter demand kicks in. Oil prices sank yesterday from a high of $69.30 to $67.49, as the private inventories data suggested a surprise build of 1.099M, against a consensus of -2.250M. Discussions between the French and US Presidents about a new Iran deal also had an effect. A drop under $67.50 may force downward pressure on prices.

At 20:15 GMT, Bank of Canada Governor Poloz is due to testify along with Senior Deputy Governor Carolyn Wilkins before the Standing Senate Committee on Banking, Trade and Commerce, in Ottawa. CAD crosses may be heavily traded as a result of this event.


Source link  
Yuan and Dollar as a weapon in trade wars

The US Nonfarm Payrolls on Friday could even be called boring: the report showed the preservation of a completely healthy labour market...

Disappointment with Fed and tariffs

Trump announced 10% tariffs on Chinese goods worth $300 billion since September 1, thus ending the US-China trade truce after disappointingly...

Fed pushes down stocks

Markets have started the week under pressure. Expectations that the Federal Reserve will cut interest rates by 50 points in July collapsed...


Gold updates new 6-years highs

Gold benefits from a combination of two factors: lower interest rates in debt markets and continuing hopes that the global economy...

Markets recede from the recent highs

A strong Nonfarm Payrolls caused pressure on the stock markets, reducing the chances of the interest rates lowering by the Fed in the upcoming months...

Gold resumes rally, pushing past $1400

Gold prices resumed a push higher on Monday, as flows into the precious metal continued on improved prospects for easier monetary policy from...


Gold rises as markets slip

Market caution continues to support gold. Quotes of this metal rose to $1337, repeatedly trying to push above this year highs at the 1340-1360 area...

Trump says Brexit should happen

President Donald Trump promised the U.K. a "phenomenal trade deal" Tuesday, on the second day of his state visit to Britain...

Euro and Gold instead of Dollar

Gold rose on Monday to the highest levels since February, reaching $1327 per ounce. In the first hours of the Tuesday trading session, there...

  


Share it on:   or