Daily Economic Calender 11/09/2019 We only show you the most important economic events during this day with some information about each econ...
Daily Economic Calender 11/09/2019
We only show you the most important economic events during this day with some information about each economic event and its impact on the market.
This economic calendar is in US time.
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Wednesday 11/09
(1)
Crude Oil Inventories : 4:30pm
Currency : USD
Actual : ..............
Forecast : -2.7M
Previous : -4.8M
Information
The change in the total number of barrels of crude oil in commercial inventories during the past week. The Energy Information Administration releases weekly data on US oil inventories, both locally and overseas. Inventory levels also help determine the prices of petroleum products. Crude oil is an important commodity on world markets. Prices are fluctuating based on supply and demand conditions in global markets. Oil is also an important part of the economy and thus contributes to the direction of inflation. Consumer prices are stable as oil prices fall and rise while oil prices rise.
Impact
Without a fixed effect it may be positive or negative
Notes
It is worth mentioning that although it is a US indicator, it affects the Canadian dollar due to the importance of the oil sector in Canada.
The importance of the event for traders
The prices of petroleum products affect inflation. It also affects oil-dependent industries. When the pace of economic growth is strong, demand increases. If stocks fall, it will lead to higher crude oil prices or higher prices of petroleum products. The decline in growth leads to a decline in demand for crude oil. Higher inventories also result in lower oil prices.
Also known as
Oil inventories or oil levels.
Details of issuance dates
Issued weekly within four days following the end of the week.
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