Oil prices dropped down after US Crude Oil Inventories data release on Thursday at 15:00 GMT. The one-minute candle lost 91 pips, or 1.24% to continue fluctuating in 72.315 area.
The Energy Information Administration released the US Crude Levels data that came out better-than-expected of 1.2M, compare to forecasted negative 4.4M.
Head of commodities strategy at BNP Paribas Harry Tchilinguirian stands: "When there is consolidation in the market, there is also the expectation of an eventual price breakout in either direction. So in the options market, the volatility gets bid up,"
Historical Data Table: US Crude Oil Inventories | Economic Calendar for 06.07.2018 | ||||||||
Date | 07.02.2018 | 14.02.2018 | 22.02.2018 | 28.02.2018 | 05.07.2018 | 12:30 PM | Canadian Employment Change | ||
Actual | 1.9M | 1.8M | -1.6M | 3.0M | 1.2M | 12:30 PM | US Non-Farm Employment Change | ||
Forecast | 3.2M | 2.8M | 2.2M | 2.4M | -4.4M | 12:30 PM | US Unemployment Rate | ||
Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
Open Price | Close Price | % Change | Longs | Shorts | |||||
AUD/USD | 0.73863 | 0.7385 | -0.02% | AUD/USD | 59.79% | 40.21% | |||
EUR/USD | 1.1702 | 1.17022 | 0.00% | EUR/USD | 59.45% | 40.55% | |||
USD/JPY | 110.565 | 110.554 | -0.01% | USD/JPY | 53.11% | 46.89% | |||
NZD/USD | 0.67842 | 0.67844 | 0.00% | NZD/USD | 45.99% | 54.01% |