Today we had German Final CPI m/m which came out in line with expectation and previous, we also had unemployment claims from USD which came ut better than expected but still same as pervious.
Crude Oil inventories had a large built up today, in fact, we haven’t seen this large built up for a long time, last one was in April 2016.
That’s pretty much the fundamental datas we had, as mentioned, a very light week for ecumenic datas released.
Sentimentally, WTI closed above $50 with green candle regardless of the large built up in crude oil inventories. Equity markets closed red today both European and North America.
Last night we had weak trade balance from CNY which directly effected the AUD & USD, as both currencies are largest trading partner with China.
Another news from NZD today saying that despite the positive datas from NZD (especially last night’s Business manufacturing index), RBNZ is still going to cut rate in the next meeting. This of course is another negative sentiment for NZD.
Another headline would be UK Brexit again, as now the whole thing is to be heard by the court. Basically the UK government wants to enact the article 50 to officially leave European nation without the need to go through the parliament, and whether this is legal or not, that’s why they now need the court to decide.
Anyhow, this just signalled another uncertainty in UK and bring further negative sentiment into it.
News from Canada that BOC is expected to hike rate in 2018, this might sound like a long time to go, however, since it is a news, which provide positive sentiment, and on top of this, if the WTI continues to go higher, we will expect to see CAD gaining more strength.
Today’s large built up in crude oil inventory did not drag WTI down, this already showed a good sign of strength in the oil market.
The detailed report also showed a large draw of diesel and heating oil, which offset and built up in crude oil inventory.
Today we had German Final CPI m/m which came out in line with expectation and previous, we also had unemployment claims from USD which came ut better than expected but still same as pervious.
Crude Oil inventories had a large built up today, in fact, we haven’t seen this large built up for a long time, last one was in April 2016.
That’s pretty much the fundamental datas we had, as mentioned, a very light week for ecumenic datas released.
Sentimentally, WTI closed above $50 with green candle regardless of the large built up in crude oil inventories. Equity markets closed red today both European and North America.
Last night we had weak trade balance from CNY which directly effected the AUD & USD, as both currencies are largest trading partner with China.
Another news from NZD today saying that despite the positive datas from NZD (especially last night’s Business manufacturing index), RBNZ is still going to cut rate in the next meeting. This of course is another negative sentiment for NZD.
Another headline would be UK Brexit again, as now the whole thing is to be heard by the court. Basically the UK government wants to enact the article 50 to officially leave European nation without the need to go through the parliament, and whether this is legal or not, that’s why they now need the court to decide.
Anyhow, this just signalled another uncertainty in UK and bring further negative sentiment into it.
News from Canada that BOC is expected to hike rate in 2018, this might sound like a long time to go, however, since it is a news, which provide positive sentiment, and on top of this, if the WTI continues to go higher, we will expect to see CAD gaining more strength.
Today’s large built up in crude oil inventory did not drag WTI down, this already showed a good sign of strength in the oil market.
The detailed report also showed a large draw of diesel and heating oil, which offset and built up in crude oil inventory.