The Energy Information Administration released the US Crude Oil Inventories data that came out lower-than-expected of negative 1.7M, compare to forecasted negative 2.4M.
John Kilduff, a partner at Again Capital Management in New York said, "The report is bearish given the smaller-than-expected decline in crude oil inventories and the very large increase in refined product inventories,". Refiners continue to operate at a high level, but they appear to be playing to increasingly empty theater, in that, demand and export levels continue to be lackluster, especially for gasoline."
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| Historical Data Table: Crude Oil Inventories | Economic Calendar for 11.01.2019 | ||||||||
| Date | 06.12.2018 | 12.12.2018 | 19.12.2018 | 19.12.2018 | 09.01.2019 | 12:30 AM | AUD Retail Sales m/m | ||
| Actual | -7.3M | -1.2M | -0.5M | -0.5M | -1.7M | 9:30 AM | UK GDP m/m | ||
| Forecast | -1.3M | -3.0M | -2.7M | -2.7M | -2.4M | 13:30 PM | US CPI m/m | ||
| Initial Reaction on Main Pairs | Open Position Proportions on 10.01.2019 | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| Light/USD | 51.295 | 51.055 | -0.47% | Light/USD | 62.54% | 37.46% | |||
| Brent/USD | 60.241 | 59.976 | -0.44% | Brent/USD | 48.62% | 51.38% | |||
| USD/CAD | 1.32202 | 1.32271 | 0.05% | USD/CAD | 42.56% | 57.44% | |||
| USD/RUB | 66.90061 | 66.93913 | 0.06% | USD/RUB | 29.06% | 70.94% | |||