The EUR/USD increased during Wednesday’s silent trade. With no major updates, market specialists disagreed for the reasons for the assembly. Some were claiming that it was a sign that traders do not anticipate an interest rate hike from the Federal Reserve, while others contemplated that it was just an outcome of output-taking after the six-day steak of profits for the dollar.

US crude oil inventories decreased by 3.4 million barrels the previous week, though prevailed near historical records. It amazed market attendants who had forecast a small rise by 0.1 million. The stockpiles increased by 2.8 million the week prior. Meanwhile, total motor gasoline inventories decreased by 1.2 million barrels but prevailed far beyond the upper limit of the moderate range for this time of the year. (Event A on the chart.)

Treasury budget turned from the arrears of $108.0 billion in March to the excess of $106.5 billion in April. Forecasters were estimating on a bigger surplus of $116.2 billion. (Event B on the chart.)

Yesterday, an announcement on wholesale inventories was announced, showing a small rise by 0.1% in March versus the analysts 0.2%. The indicator decreased 0.6% in February (revised). (Not shown on the chart.)

The EUR USD Increases for First Time in Six Sessions

Mike N
Mike N

Financial Trading Systems Design Expert

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