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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% | |||