Macro Trades: EUR/USD Light/USD [Video]
|EUR/USD: EU Main Refinancing Rate
The European Single Currency depreciated against the US Dollar, following the EU Main Refinancing Rate release on Thursday at 12:45 GMT. The EUR/USD exchange currency rate lost 19 pips or 0.17% during a minute, right after the release. The European Single Currency continue trading at the 1.1380 area against the US Dollar.
The European Central Bank released the EU Main Refinancing Rate data in line with expectations of 0.00%.
According to Howard Archer, Chief Economic Advisor to EY ITEM Club, "ECB slightly trims its forecast of Eurozone GDP growth in 2019 to 1.7% from 1.8% seen in September. 2018 growth estimate cut to 1.9% from 2.0%. Growth still seen at 1.7% in 2020. 2021 growth forecast at 1.5%. Balance of growth risks broadly balanced but moving to downside."
Light/USD: US Crude Oil Inventories
The oil price has depreciated after the US Crude Oil Inventories data release on Wednesday at 15:30 GMT. The one-minute candle lost 26 pips, or 0.50% right after the data release. In the next minutes, the rate was trading at the 52.40 level against the US Dollar.
The Energy Information Administration released the US Crude Inventories data that came out better-than-expected of negative 1.2M, compare to forecasted negative 3.0M.
Andrew Lipow, the President of Lipow Oil Associates in Houston said, "The market is disappointed that the EIA did not confirm the 10 million-barrel crude oil inventory draw we saw in the API statistics yesterday and as a result the crude oil price has come off,".
EUR/USD: US CPI and Core CPI
The European Single Currency depreciated against the US Dollar, following the US CPI and Core CPI release on Wednesday at 13:30 GMT. The EUR/USD exchange currency rate lost 4 pips or 0.04% during a minute, right after the release. The European Single Currency continued trading at the 1.1340 area against the US Dollar.
The Bureau of Labor Statistics released US CPI data in line with expectations of 0.00%. Note, that the US Core CPI was released at the same time with the US CPI.
The Consumer Price Index for All Urban Consumers (CPI-U) was unchanged in November on a seasonally adjusted basis after rising 0.3 percent in October, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 2.2 percent before seasonal adjustment.
EUR/USD: US PPI and Core PPI
The European Single Currency depreciated against the US Dollar, following the US PPI and Core PPI release on Tuesday at 13:30 GMT. The EUR/USD exchange currency rate lost 4 pips or 0.04% during a minute, right after the release. The European Single Currency kept going downwards after the data release to continue trading at the 1.1360 area against the US Dollar.
The Bureau of Labor Statistics released US PPI data better-than-expected of 0.1% compared with forecasted 0.00%. Note, that the US Core PPI was released at the same time with the US PPI.
The Producer Price Index for final demand edged up 0.1 percent in November, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Final demand prices advanced 0.6 percent in October and 0.2 percent in September. On an unadjusted basis, the final demand index moved up 2.5 percent for the 12 months ended in November.
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