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| Will US Inventories Data Help Crude Oil Reverse Last Week’s Losses? Posted: 10 Jul 2012 07:29 AM PDT
At FOREXYARD, we believe in keeping our clients prepared for potentially significant news events. As such, traders will want to carefully monitor the US Crude Oil Inventories figure, set to be released on July 11th, at 14:30 GMT. Demand in the United States, the world's leading oil consuming country, tends to have a direct impact on the price of crude. As can be seen in the chart below, the price of oil spiked by almost $1.50 a barrel on June 13th after the US inventories data showed crude stockpiles falling by 0.2 million barrels the week before.
Don't miss out on another opportunity to capitalize on market volatility! Should Wednesday's news show crude oil stockpiles fell again last week, investors may take the news as a sign that demand in the United States is increasing, which may help oil reverse some of its recent losses. This is an excellent opportunity for forex traders to take advantage of potentially significant news, so don't miss out! |
| Posted: 10 Jul 2012 01:33 AM PDT
The euro saw moderate gains against the US dollar in overnight trading, but analysts were quick to warn that the overall trend for the common-currency is still bearish and that any upward movement is likely to be temporary. Against the JPY, the euro has fallen by over 60 pips since last night and is currently trading around the 97.35 level. Main News for Today UK Manufacturing Production- 08:30 GMT EUR ECOFIN Meetings- All Day Read more forex news on our forex blog |
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