The RBA will make a rate statement on August 4 at 7:30 MT time.
Will the US crude oil inventories push the USD up?
Information is not investment advice
The American Crude Oil inventories will be announced at 18:00 MT time on December 27.
In view of the OPEC’s last meeting and the ongoing discussions around the world oil production and prices, the American crude oil inventories are an important figure to watch out for. Although it is not a prime indicator like a total US crude oil output, still, it has an impact on the market, especially on the CAD after the USD, due to the robust energy sector of Canada connected with the US. While the USD rises on the expansion of this indicator, the influence on the CAD is inverted; decreasing American oil inventories would put the USD under pressure down and support the CAD.
- If the figures are higher than expected, the USD will be supported;
- If the figures are lower than expected, the USD will be under pressure down.
Find out the reasons!
The market sentiment deteriorated because of the election uncertainty and worries about rising virus cases all over the world. Let's make some analysis!
The focus of traders’ attention shifted from Brexit and the US stimulus to the coronavirus . The WHO claimed that Europe become the new Covid-19 epicenter.