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  
Markets recover after the drop

The markets decline on investors' fears that trade conflicts will drag on and slow down demand, and this dynamic coincided with breaking through important...

Markets pressured by Huawei problem

Alphabet and some other American IT companies have suspended business with Huawei, which is one of the first examples of major consequences for...

The climate is changing rapidly

British people need to fly less, drive electric cars, eat little meat and turn their home thermostats down to 19 degrees Celsius (66 Fahrenheit) in order to rein...


Chinese stocks saw their worst week

Chinese stocks have taken investors on a ride this year. Shanghai and Shenzhen have been the best performing global markets this year, with the Shanghai...

Risk-sensitive currencies on the rise

Stock markets show growth after the release of strong data for China and Japan as their respective PMIs were better than expected which supported...

Trump again puts pressure on OPEC

President Donald Trump told OPEC on Thursday that its members should start pumping more oil, marking his second warning to the producer group this year...


Turkish lira fell by 5% before elections

The Turkish lira dropped by as much as 5 percent against the dollar on Thursday morning, as the country gears up for elections this weekend. The greenback...

May won't ask for a long Brexit delay

Prime Minister Theresa May won't ask the European Union for a 'long' delay to the Brexit deadline, her office said, after pro-Brexit ministers objected...

Demand for safe assets grows

Markets remain under moderate pressure, despite the Fed comments. Powell's semi-annual speech in Congress reinforced expectations that the US Central Bank...

  


Share it on:   or