EIA Crude Oil Stocks Change comes in at -3.186M against 1.07M consensus
| Pair | Now | Since publish |
|---|---|---|
| EURUSD | — | — |
| USDJPY | — | — |
The latest EIA Crude Oil Stocks Change data, released today, showed a decrease of -3.186 million barrels. This figure significantly diverged from the market consensus, which had anticipated an increase of 1.07 million barrels. The previous week’s change was reported at 0.922 million barrels. The actual print represents a surprise of -397.8% when compared to the consensus estimate.
Following the release, market reactions were observed across major currency pairs and gold. Fifteen minutes after the data, AUDUSD moved +0.5 pips, EURUSD +2.5 pips, GBPUSD -3.7 pips, NZDUSD +0.6 pips, USDCHF +0.9 pips, and USDJPY -1.7 pips. These moves are small when compared to their respective median 1-hour moves, which range from 6 pips to 11 pips after past releases. USDCAD moved -6.2 pips, also a relatively small move compared to its median 1-hour move of 10 pips. XAUUSD, however, saw a move of +62 pips within 15 minutes, which is larger than its median 1-hour move of 23 pips and falls into the top-quarter of past releases that moved 47+ pips.