Drop in US stockpiles causes oil to spike

Source: WBP Online
Oil prices reached their 2016 high on Wednesday as the US crude inventories took a plunge. A 0.95% rise in WTI led crude futures to climb as high as $44.46 at 5:00 GMT per barrel as Brent futures rallied 1.07% and traded at $46.23 at 5:00 GMT. During the session, both indices showed their 2016 highs as WTI reached $44.83 per barrel while Brent surged to $46.49.

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Wed, 27 Apr 2016 10:58:23 GMT

Australian Dollar plunges as CPI falls

The CPI sank to 0.2% in March, presenting the first inflation drop in seven years that caused the Australian Dollar to lose its value against the US Dollar. The Australian Dollar was trading at $0.7765 before the announcement, surging by 1.50% to $0.7630 after the news came out. The drop in the CPI is an indicator for a potential interest rate cut to sustain

Thu, 21 Apr 2016 15:17:08 GMT

US HPI remains unchanged in February

According to the latest data released by the Federal Housing Finance Agency on Thursday, the House Price index showed a 0.4% reading on a seasonally adjusted basis in the second month of the year, following the previous month's revised down 0.4% result and meeting economists' forecasts.

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