Source: EIA Crude oil inventories in the United States declined further in the past week, as imports fell even as inputs increased. Commercial crude oil inventories for the week ending December 31 fell by 2.1 million barrels from the previous week to 417.9 million barrels. The latest figure brings the inventories about 8% lower than the five-year average for this … [Read more...] about Crude Oil Inventories Slip Further to 417.9 Million Barrels
Forex News
US Services Growth Cools to Three-Month Low
Source: IHS Markit The growth of US service providers fell to a three-month low in December, dragged by the sustained pressure on capacity during the month. The IHS Markit US Services PMI Business Activity fell to 57.6 in December from 58.0 in November, marking the lowest in three months.Firms reported staffing concerns and difficulties in retaining workers, denting job … [Read more...] about US Services Growth Cools to Three-Month Low
US Private Sector Stages Robust Recoveries After Adding 807,000 Jobs in December
Source: ADP National Employment A total of 807,000 jobs were generated in the US private sector from November to December, more than double an estimate of 400,000. SPY is down -0.18%, DXY is down -0.32%. Large businesses added the bulk of the jobs at 389,000, with those having more than 1,000 employees generating the most employment.Medium businesses contributed to … [Read more...] about US Private Sector Stages Robust Recoveries After Adding 807,000 Jobs in December
EURUSD BullsEye 1.1300 Amid Dollar Softness As AUDUSD Bids Gather Steam
US dollar softness as treasury yields retreat.EURUSD bulls eye 1.1300 supports on dollar softness.AUDUSD is on a bounce-back mode. After a volatile Tuesday trading session, the US dollar was on the defensive mode Wednesday morning. The dollar index raced to two-week highs of 96.45 before coming under pressure as ISM Manufacturing PMI data disappointed. With treasury … [Read more...] about EURUSD BullsEye 1.1300 Amid Dollar Softness As AUDUSD Bids Gather Steam
Turkey Cracks Down on Currency Market Amid Lira Depreciation
Source: Bloomberg Turkish officials are reinforcing their supervisory functions as the country struggles to contain the slump of its currency. TUR is up 0.87% premarket. The Turkish central bank has urged local lenders to report major dollar purchases which may have hit the market negatively, sources close to the matter said.Lenders have also been requested to advise … [Read more...] about Turkey Cracks Down on Currency Market Amid Lira Depreciation
