News | Forex Optimum



EIA’s report reveals surprise surge in U.S. crude oil inventories

The U.S. Energy Information Administration (EIA) revealed on Wednesday that crude inventories surged by 5.431 million barrels in the week ended May 10. Economists had forecast a decrease of 1.200 million barrels.

At the same time, gasoline stocks declined by 1.123 million barrels, while analysts had expected a drop of 0.350 million barrels. Distillate stocks rose by 0.084 million barrels, while analysts had forecast a decrease of 0.719 million barrels.

Meanwhile, oil production in the U.S. decreased by 100,000 barrels a day to 12.100 million barrels a day.

U.S. crude oil imports averaged 7.6 million barrels per day last week, up by 919,000 barrels per day from the previous week.

You may also be interested:

10:59 22.05.2019
GBP/USD: Retracement will hold - Commerzbank
Karen Jones, analyst at Commerzbank, suggests that GBP/USD pair has reached support offered by the August, October and mid-January lows at 1.2696/62.“We note the oversold daily RSI and the TD perfected set up on the daily – both of which suggest the 78.6% retracement at 1.2644 will hold. Minor resistance comes in at the 1.2865 April low. Immediate downside pressure will be maintained while no rise above the 200 day moving average at 1.2956 is seen. Next up is the May 10 high at 1.3048. Only if
10:39 22.05.2019
China cracks down on high-interest rate deposit schemes
China’s financial regulators have told some domestic banks to stop marketing so-called smart deposits, which look like high-interest term deposits but are in fact investment products, three sources told.“Smart” deposits have been widely marketed by Chinese banks, especially smaller ones, since last year to attract deposits. But there are concerns they might violate rules for setting interest rates and could cause liquidity risks for smaller banks because they are an expensive way to attract
10:20 22.05.2019
Australia: Cooling construction activity in Q1 2019 - Westpac
Andrew Hanlan, analyst at Westpac, points out that Australian construction sector experienced a further cooling of conditions in early 2019, with construction work contracting for a third consecutive quarter, falling by: -3.6% in Q3 2018; -2.1% in Q4; and -1.9% in Q1 2019.“The March quarter outcome fell short of expectations, which were for a consolidation (market median flat and Westpac +0.2%). With the construction sector accounting for about 14% of the economy, this result will subtract in
Bonuses VIP