EIA Cushing Crude Oil Stocks Change comes in at 0.08M against -1.042M consensus
| Pair | Now | Since publish |
|---|---|---|
| EURUSD | — | — |
| USDJPY | — | — |
The EIA Cushing Crude Oil Stocks Change came in at 0.08M. This figure was significantly above the consensus expectation of -1.042M, representing a surprise of 107.7% against analyst forecasts. The previous reading for this metric was 1.176M.
Following the release, market reactions across major pairs and gold were observed. USDCAD moved -16 pips within 15 minutes, which is larger than its median 1-hour move of 10 pips after past releases. XAUUSD moved -27 pips in 15 minutes, exceeding its median 1-hour move of 22 pips. USDJPY saw a +5.2 pips move, compared to its median 1-hour move of 8 pips. Other pairs, including AUDUSD (+1.5 pips), EURUSD (-1.2 pips), GBPUSD (-1.0 pips), NZDUSD (+1.9 pips), and USDCHF (-2.5 pips), showed relatively smaller movements within the 15-minute window when compared to their respective median 1-hour moves of 7 pips, 8 pips, 11 pips, 6 pips, and 7 pips.