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58 pips and 222 points potential profit in 444 seconds on 14 November 2023, analysis on futures forex fx low latency news trading EURUSD, USDJPY and US30 on US BLS Consumer Price Index (CPI) data

According to our analysis EURUSD and USDJPY moved 58 pips and US30 moved 222 points on US BLS CPI (Consumer Price Index) data on 14 November 2023.

EURUSD (38 pips)

USDJPY (20 pips)

US30 (222 points)

Charts are exported from JForex (Dukascopy).

The Consumer Price Index for All Urban Consumers (CPI-U) remained unchanged in October, following a 0.4 percent increase in September. Over the last 12 months, the all items index increased by 3.2 percent before seasonal adjustment.

Components:

  • Shelter: The index for shelter continued its upward trend, compensating for a decline in the gasoline index, resulting in a stable seasonally adjusted index for the month.

  • Energy: The energy index fell by 2.5 percent in October, largely due to a significant decline in the gasoline index. The energy index decreased by 4.5 percent over the last 12 months.

  • Food: The food index increased by 0.3 percent, with the index for food at home rising by 0.3 percent and food away from home rising by 0.4 percent.

  • All Items Less Food and Energy: This index rose by 0.2 percent in October, driven by notable increases in rent, owners' equivalent rent, motor vehicle insurance, medical care, recreation, and personal care.

Inflation Rates:

  • All Items: The all items index rose by 3.2 percent for the 12 months ending October, a smaller increase than the 3.7-percent rise for the 12 months ending September.

  • All Items Less Food and Energy: This index rose by 4.0 percent over the last 12 months, its smallest 12-month change since September 2021.

  • Energy: The energy index decreased by 4.5 percent for the 12 months ending October.

Selected Categories:

  • Food at Home: The index rose by 2.1 percent over the last 12 months.

  • Food Away From Home: The index rose by 5.4 percent over the last year.

  • Energy Commodities: Notable decline of 6.2 percent over the last 12 months.

  • New Vehicles: An increase of 1.9 percent.

  • Used Cars and Trucks: A decrease of 7.1 percent.

Notable Changes:

  • Shelter: The shelter index played a significant role in the monthly increase in the index for all items less food and energy.

  • Medical Care: The medical care index rose by 0.3 percent in October, with increases in hospital services and prescription drugs.

  • Transportation Services: Experienced an increase of 9.2 percent over the month.

Market Reaction: In response to this CPI data, the financial markets exhibited specific movements:

  • EURUSD: Demonstrated an upward movement of 38 pips, reflecting a stronger Euro against the US Dollar.

  • USDJPY: Experienced a downward movement of 20 pips, indicating a weaker US Dollar against the Japanese Yen.

  • US30 (Dow Jones): Showed an upward movement of 222 points, suggesting positive sentiment in the stock market.

Outlook: The all items index rose by 3.2 percent over the last 12 months. The next CPI for November 2023 is scheduled to be released on December 12, 2023.

This comprehensive overview combines CPI data, market reactions, and potential economic implications, providing a well-rounded understanding of the economic landscape in October 2023.

Source: https://www.bls.gov/news.release/cpi.nr0.htm

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6 pips and 26 points potential profit in 7 seconds on 10 November 2023, analysis on futures forex fx low latency news trading EURUSD and US30 on University Michigan Consumer Sentiment

According to our analysis EURUSD and US30 moved 6 pips and 26 points on University Michigan Consumer Sentiment / Inflation Expectations data on 10 November 2023.

EURUSD (6 pips)

US30 (26 points)

Charts are exported from JForex (Dukascopy).

The November 2023 Michigan Consumer Sentiment report portrays a sustained decline in consumer sentiment for the fourth consecutive month. The overall index dipped by 5.3% from October, marking subtle shifts in distinct components. While there were marginal upticks in current and expected personal finances, the long-term economic outlook notably plunged by 12%. Factors such as concerns over high interest rates and ongoing global conflicts in regions like Gaza and Ukraine contributed to this decline. The impact was most pronounced among lower-income and younger consumers, whereas the top tier of stockholders showed a substantial 10% improvement, reflecting recent strength in equity markets.

Additionally, the report emphasized a surge in inflation expectations. Both short-term and long-term projections notably increased, especially in gas prices, reaching the year's highest levels. Year-ahead inflation expectations climbed to 4.4%, highlighting a consistent rise in recent months. Long-run inflation expectations also reached 3.2%, the highest since 2011.

In the markets, the reaction to this sentiment report was relatively measured. While the forex market saw a minor 6-pip downturn in EUR/USD, and the US30 index experienced a 26-point drop, these fluctuations were within the range of typical market movements. Such modest shifts might not signify substantial changes unless part of broader, sustained trends. Traders often analyze these fluctuations in conjunction with other indicators or news to make informed decisions, recognizing them as part of regular market dynamics. The forthcoming data release in November is anticipated to provide further insights into whether these trends will persist or potentially shift.

Source: http://www.sca.isr.umich.edu

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76 ticks potential profit on 9 November 2023, analysis on trading soybeans and corn futures on USDA WASDE data

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76 ticks potential profit on 9 November 2023, analysis on trading soybeans and corn futures on USDA WASDE data

According to our analysis soybeans (ZS) and corn (ZC) futures prices moved around 76 ticks on USDA WASDE (World Agricultural Supply and Demand Estimates) data on 9 November 2023.

Soybeans (56 ticks)

Charts are exported from JForex (Dukascopy).

The October 2023 World Agricultural Supply and Demand Estimates (WASDE) report presents a comprehensive overview of various key agricultural sectors, both domestically in the United States and globally. Here are the highlights of the report along with additional information on market movements:

Wheat & Coarse Grains:

  • U.S. Wheat: Shows increased supplies, higher domestic use, and ending stocks due to augmented production.

  • Global Wheat: Indicates reduced supplies, consumption, trade, and stocks due to varied production changes across countries.

  • U.S. Corn: Forecasts decreased supplies, exports, and ending stocks because of reduced production and demand.

  • Global Coarse Grains: Reflects mixed production changes affecting trade and stocks across different countries.

Rice & Oilseeds:

  • U.S. Rice: Predicts slightly reduced supplies with increased exports. Global trade and supplies fluctuate slightly.

  • U.S. Oilseeds (Soybeans): Forecasts reduced production, impacting exports and supplies. Global oilseed production changes differ across nations, affecting trade and stocks.

Sugar, Livestock, Poultry, and Dairy:

  • Sugar: Reports supply changes in Mexico and the U.S., influenced by factors such as drought.

  • Livestock, Poultry, Dairy: Demonstrates adjustments in production, exports, imports, and price forecasts driven by factors like demand, market competition, and supply variations.

Cotton and Global Outlook:

  • Cotton: Forecasts lower U.S. production, exports, and ending stocks. Globally, changes in production and trade in various countries impact the overall market scenario.

Additionally, we noticed the following market movements:

  • Soybean Futures: Experienced a 56-tick downward movement, possibly in response to reduced U.S. soybean production and increased competition from South America.

  • Corn Futures: Witnessed a 20-tick decline, likely due to decreased U.S. corn production, slow early-season demand, and lower feed and residual use, as outlined in the report.

The market reaction was mixed, as reflected in the fluctuations across various commodities, indicating a complex interplay of supply, demand, and global factors. These adjustments hold implications for traders, investors, and policymakers, guiding them in making informed decisions within the dynamic agricultural landscape.

Source: https://www.usda.gov/oce/commodity/wasde

Haawks G4A is one of the fastest machine-readable data feeds for USDA data. We are beating big names in the industry by seconds. Coverage includes monthly USDA WASDE (World Agricultural Supply and Demand Estimates), quarterly USDA Grain Stocks and yearly USDA Prospective Plantings and USDA Acreage.

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58 pips and 83 points potential profit in 89 seconds on 3 November 2023, analysis on forex fx futures news trading USDJPY, EURUSD and US30 on US Employment Situation (Non-farm payrolls/NFP) data

According to our analysis USDJPY and EURUSD moved around 58 pips and US30 around 83 points on US Employment Situation (Non-farm payrolls / NFP) data on 3 November 2023.

USDJPY (36 pips)

EURUSD (22 pips)

US30 (83 points)

Charts are exported from JForex (Dukascopy).

BLS Employment Report - October 2023:

The U.S. Bureau of Labor Statistics released its Employment Situation Summary for October 2023. The key points from the report are as follows:

  • Total nonfarm payroll employment increased by 150,000 in October.

  • The unemployment rate remained largely unchanged at 3.9 percent.

  • Job gains were seen in the health care, government, and social assistance sectors, while manufacturing employment declined due to strike activity.

  • Household survey data revealed that the unemployment rate stood at 3.9 percent, with 6.5 million unemployed persons.

Market Reaction:

In response to the BLS report, financial markets exhibited notable reactions:

  • USD/JPY: The USD/JPY currency pair moved 36 pips down, indicating a weakening of the U.S. Dollar against the Japanese Yen. This reaction in the forex market suggests concerns about the U.S. economic outlook.

  • EUR/USD: The EUR/USD currency pair moved 22 pips up, reflecting a strengthening of the Euro against the U.S. Dollar. This may imply confidence in the European economy relative to the U.S.

  • US30 (Dow Jones Industrial Average): The Dow Jones Industrial Average gained 83 points, suggesting positive sentiment in the stock market. Investors viewed the employment report as a positive sign for the U.S. economy.

Expectation vs. Reality:

It's important to note that the actual non-farm payroll figures in the October report deviated from expectations. While expectations were for a higher figure, the actual employment gains were reported at 150,000, which was below the anticipated number. This discrepancy between expectations and the actual result can impact market sentiment and trading strategies.

In summary, the BLS report for October 2023 showed modest job growth and relatively stable unemployment rates, with notable market reactions. The difference between the expected and actual non-farm payroll figures highlights the dynamic nature of economic data and its influence on financial markets.

Source: https://www.bls.gov/news.release/empsit.nr0.htm

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8 pips and 43 points potential profit in 36 seconds on 1 November 2023, analysis on futures forex fx news trading EURUSD and US30 on US BLS Job Openings and Labor Turnover Survey (JOLT) data

According to our analysis EURUSD moved 8 pips and US30 moved 43 points on US BLS Job Openings and Labor Turnover Survey (JOLT) data on 1 November 2023.

EURUSD (8 pips)

US30 (43 points)

Charts are exported from JForex (Dukascopy).

The U.S. Bureau of Labor Statistics has released the "Job Openings and Labor Turnover Summary" for September 2023. Here are the key highlights from the report:

Job Openings:

  • The number of job openings remained relatively stable at 9.6 million on the last business day of September.

  • The job openings rate was unchanged at 5.7 percent.

  • Job openings increased in the accommodation and food services industry (+141,000) and in arts, entertainment, and recreation (+39,000).

  • However, job openings decreased in other services (-124,000), federal government (-43,000), and information (-41,000).

Hires:

  • In September, the number of hires changed little, remaining at 5.9 million.

  • The hire rate was 3.7 percent for the third consecutive month.

  • The number of hires remained relatively stable across all industries.

Separations:

  • Total separations include quits, layoffs and discharges, and other separations.

  • The number and rate of total separations in September changed little at 5.5 million and 3.5 percent, respectively.

  • Over the month, total separations decreased in state and local government education (-42,000) and in nondurable goods manufacturing (-37,000) but increased in federal government (+8,000).

Quits:

  • In September, the number of quits changed little at 3.7 million, and the quit rate was 2.3 percent for the third consecutive month.

  • The number of quits increased in the information industry (+24,000) but decreased in state and local government, excluding education (-15,000).

Layoffs and Discharges:

  • In September, the number and rate of layoffs and discharges changed little at 1.5 million and 1.0 percent, respectively.

  • The number of layoffs and discharges decreased in state and local government education (-22,000).

Other Separations:

  • The number of other separations remained relatively stable in September at 352,000.

Establishment Size Class:

  • Job openings, hires, and total separations rates remained stable for establishments with 1 to 9 employees.

  • The job openings rate decreased for establishments with 5,000 or more employees.

The report provides insights into the state of the labor market, including job openings, hires, and separations across various industries and establishment sizes.

The Job Openings and Labor Turnover Survey estimates for October 2023 are scheduled to be released on Tuesday, December 5, 2023, at 10:00 a.m. (ET).

Source: https://www.bls.gov/news.release/jolts.nr0.htm

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544 pips potential forex fx futures news trading profit from 11 events in October 2023 with Haawks G4A machine-readable data feed

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544 pips potential forex fx futures news trading profit from 11 events in October 2023 with Haawks G4A machine-readable data feed

According to our analysis there was a potential of 544 pips / ticks profit out of the following 11 events in October 2023. The potential performance in 2022 was 9,269 pips / ticks.

October 2023

Cumulative potential, indicative performance October 2023, please see all releases below.

Total trading time would have been around 11 minutes! (preparation time not included)

In October 2023, financial markets were influenced by a series of key economic events and reports, each carrying the potential to impact asset prices and trading strategies. The total potential pips and ticks for the month amounted to 544, reflecting the overall market volatility and the opportunities it presented to traders and investors.

Some of the notable events and their respective point values included:

  • US Non-farm Payrolls (NFP) with a potential of 115 points on October 6th, indicating the significance of employment data for market sentiment.

  • US Consumer Price Index (CPI) with 11 pips on October 12th, highlighting the importance of inflation data.

  • DOE Natural Gas Storage Report with 67 ticks on October 12th and 83 ticks on October 19th, signifying the influence of energy supply and demand dynamics.

  • USDA World Agricultural Supply and Demand Estimates (WASDE) with 84 ticks on October 12th, demonstrating the relevance of agricultural commodity data.

  • Sweden Consumer Price Index (CPI) with 154 pips on October 13th, illustrating the impact of inflation data in a global context.

  • University of Michigan Consumer Sentiment/Inflation Expectations with 15 pips and 37 points on October 13th, indicating consumer sentiment's role in shaping market trends.

  • US Census Bureau Retail Sales with 13 pips on October 17th, reflecting the importance of consumer spending.

  • Canada Consumer Price Index (CPI) with 39 pips on October 17th, mirroring the significance of inflation data in the Canadian context.

  • DOE Petroleum Status Report with 49 ticks on October 18th, influencing the energy market and related stocks.

  • US Durable Goods Orders and US Gross Domestic Product (GDP) with 20 pips on October 26th, highlighting the influence of economic health indicators.

In summary, October 2023 presented traders and investors with a variety of economic events that collectively offered the potential for 544 pips and ticks. These events encompassed a broad range of economic data, including employment, inflation, energy supply, agriculture, consumer sentiment, and economic growth. Understanding the significance of these events and their potential impact on financial markets was crucial for those seeking to navigate the complex world of finance and make informed investment decisions.

These events and reports presented opportunities for traders to analyze and capitalize on market movements in various financial instruments, from currencies to commodities. While these opportunities carried profit potential, traders should always be mindful of market risks and exercise prudent trading practices.

Start futures/forex/oil/grains news trading with Haawks G4A low latency machine-readable data today, we offer the fastest machine-readable data feed for US economic and commodity data and economic data from Norway, Sweden, Turkey and ECB interest rates and statement.

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20 pips potential profit in 10 seconds on 26 October 2023, analysis on futures forex fx low latency news trading USDJPY and EURUSD on US Durable Goods Orders and US GDP

According to our analysis USDJPY and EURUSD moved 20 pips on US Durable Goods Orders and US Gross Domestic Product (GDP) data on 26 October 2023.

USDJPY (9 pips)

EURUSD (11 pips)

Charts are exported from JForex (Dukascopy).

U.S. Economy Shows Mixed Signals in Latest Reports

In a snapshot of the U.S. economy's performance, two recent releases by the U.S. Census Bureau and the Bureau of Economic Analysis provide valuable insights into the state of the nation's economic affairs. These reports, released simultaneously on October 26, 2023, reveal a complex economic landscape marked by ups and downs. Let's delve into the key findings from both reports to gain a better understanding of the current economic situation.

1. Advance Estimate of Gross Domestic Product (GDP) for Q3 2023

The Bureau of Economic Analysis (BEA) released its "advance" estimate of the Gross Domestic Product for the third quarter of 2023, and it offers a mixed bag of economic indicators.

Positive Highlights:

  • GDP Growth: Real GDP increased at an annual rate of 4.9 percent in the third quarter, marking a significant acceleration from the 2.1 percent growth seen in the previous quarter.

  • Consumer Spending: The increase in GDP was driven by substantial growth in consumer spending, particularly in services and goods. Housing and utilities, healthcare, financial services, and food services were among the leading contributors to this increase.

  • Exports and Government Spending: Exports, state and local government spending, and federal government spending all contributed positively to GDP growth.

Concerning Points:

  • Nonresidential Fixed Investment: There was a notable downturn in nonresidential fixed investment.

  • Disposable Personal Income: While current-dollar personal income increased, disposable personal income saw a 1.0 percent decrease, contrasting the growth observed in the previous quarter.

  • Personal Saving Rate: The personal saving rate decreased from 5.2 percent to 3.8 percent, indicating that consumers may be saving less.

2. Durable Goods Manufacturers' Shipments, Inventories, and Orders for September 2023

The U.S. Census Bureau's report on durable goods manufacturers' shipments, inventories, and orders for September 2023 provides further insights into economic trends.

Notable Findings:

  • New Orders Increase: New orders for manufactured durable goods increased by $13.2 billion, a 4.7 percent rise, reaching $297.2 billion. This comes after two consecutive monthly decreases.

  • Transportation Sector: A significant driver of this growth was the transportation equipment sector, with orders increasing by $12.3 billion, or 12.7 percent.

  • Excluding Defense: Excluding defense-related orders, new orders surged by 5.8 percent, suggesting strength in non-defense sectors.

Conclusion:

These two simultaneous releases offer a multifaceted view of the U.S. economy. The advance estimate of GDP for Q3 2023 indicates robust economic growth, driven by increased consumer spending, exports, and government spending. However, there are concerns regarding nonresidential fixed investment and personal savings.

On the other hand, the durable goods manufacturers' report signals a rebound in new orders, primarily attributed to the transportation sector and non-defense-related orders.

It's essential to note that economic data is subject to revisions, and a more complete picture will emerge in the coming months. The mixed signals in these reports underscore the dynamic nature of the U.S. economy, where multiple factors contribute to its overall health. As we move forward, keeping a close eye on these economic indicators will be crucial for understanding the nation's economic trajectory.

Sources: https://www.bea.gov/news/2023/gross-domestic-product-third-quarter-2023-advance-estimate, https://www.census.gov/manufacturing/m3/adv/current/index.html

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83 ticks potential profit in 50 seconds on 19 October 2023, analysis on futures forex fx news trading natural gas on DOE Natural Gas Storage Report data

According to our analysis natural gas moved 83 ticks on DOE Natural Gas Storage Report data on 19 October 2023.

Natural gas (83 ticks)

Charts are exported from JForex (Dukascopy).

Natural Gas Weekly Update – October 18, 2023

In the world of energy commodities, natural gas plays a pivotal role in meeting various demands, from residential heating to electricity generation. Understanding the latest developments in the natural gas market is essential for consumers, businesses, and investors. Here's a recap of the key points from the Natural Gas Weekly Update for the week ending October 18, 2023:

Associated Natural Gas Production Surge: In 2022, associated-dissolved natural gas production (associated natural gas) witnessed a significant 9% increase, reaching 15.5 billion cubic feet per day. This surge was primarily attributed to an 8% growth in crude oil production in major U.S. onshore crude oil-producing regions, such as Permian, Bakken, Eagle Ford, Niobrara, and Anadarko. Associated natural gas, which is dissolved in crude oil and released during oil extraction, accounted for over a third of total natural gas production in these regions and 14% of total U.S. natural gas production.

Market Highlights: For the week ending October 18, 2023, here are the natural gas market highlights:

Prices:

  • The Henry Hub spot price fell from $3.18/MMBtu to $2.90/MMBtu.

  • The price of the November 2023 NYMEX contract decreased from $3.377/MMBtu to $3.056/MMBtu.

  • Select regional spot prices showed varying price changes, with some locations experiencing increases.

Supply and Demand:

  • Total supply of natural gas increased by 1.1% compared to the previous week.

  • Dry natural gas production averaged 102.6 Bcf/d, reaching the highest weekly average since May 2023.

  • Total consumption of natural gas rose by 2.4% compared to the previous week.

  • Industrial sector consumption increased, and residential and commercial sector consumption surged due to cooler temperatures.

Liquefied Natural Gas (LNG):

  • Average natural gas deliveries to U.S. LNG export terminals increased by 12.2% week over week.

  • Vessels departing U.S. ports carried a total LNG-carrying capacity of 108 Bcf.

Rig Count:

  • The natural gas rig count decreased by one rig to 117 rigs, while the oil rig count increased by four rigs.

Storage Report Impact:

  • The weekly storage report led to a decline in natural gas prices, with the market dropping by 83 ticks.

Storage:

  • Net injections into storage totaled 97 Bcf for the week ending October 13, slightly above the five-year average.

  • Working natural gas stocks reached 3,626 Bcf, 5% higher than the five-year average and 9% more than last year at the same time.

The natural gas market is influenced by various factors, including production, consumption, and regional price variations. These insights are valuable for both industry experts and everyday consumers as they navigate the energy landscape. Stay tuned for the next update on October 26, 2023, to keep abreast of the latest developments in the natural gas market.

Source: https://www.eia.gov/naturalgas/weekly/

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49 ticks potential profit in 55 seconds on 18 October 2023, analysis on futures forex fx low latency news trading crude oil on DOE Petroleum Status Report data

According to our analysis crude oil moved 49 ticks on DOE Petroleum Status Report data on 18 October 2023.

Light sweet crude oil (22 ticks)

Brent crude oil (27 ticks)

Charts are exported from JForex (Dukascopy).

In recent trading sessions, two significant crude oil benchmarks, West Texas Intermediate (WTI) and Brent crude oil, have experienced notable price movements. WTI has moved up 22 ticks, and Brent has increased by 27 ticks. These price shifts reflect the complex interplay of factors such as global demand, geopolitical tensions, supply concerns, economic recovery, and environmental policies.

One crucial aspect influencing these oil price movements is the weekly Petroleum Status Report for the United States, which provides insights into the nation's crude oil and petroleum product inventories, production rates, and consumption trends.

According to the most recent report for the week ending October 13, 2023:

  1. Crude Oil Refinery Inputs: U.S. crude oil refinery inputs averaged 15.4 million barrels per day during the week, showing an increase of 192 thousand barrels per day from the previous week. Refineries operated at 86.1% of their operable capacity during this period.

  2. Gasoline Production: Gasoline production increased last week, averaging 9.8 million barrels per day.

  3. Distillate Fuel Production: Distillate fuel production decreased last week, averaging 4.7 million barrels per day.

  4. Crude Oil Imports: U.S. crude oil imports averaged 5.9 million barrels per day last week, a decrease of 387 thousand barrels per day from the previous week.

  5. Crude Oil Inventories: U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 4.5 million barrels from the previous week. At 419.7 million barrels, U.S. crude oil inventories are about 5% below the five-year average for this time of year.

  6. Gasoline and Distillate Inventories: Total motor gasoline inventories decreased by 2.4 million barrels from last week and are slightly above the five-year average for this time of year. Distillate fuel inventories decreased by 3.2 million barrels last week and are about 12% below the five-year average for this time of year.

  7. Total Commercial Petroleum Inventories: Total commercial petroleum inventories decreased by 11.9 million barrels last week.

  8. Products Supplied: Total products supplied over the last four-week period averaged 20.2 million barrels a day, down by 0.9% from the same period last year. Motor gasoline product supplied averaged 8.5 million barrels a day, down by 3.1% from the same period last year. Distillate fuel product supplied averaged 4.0 million barrels a day over the past four weeks, down by 5.1% from the same period last year.

These reports not only reflect the current state of the U.S. petroleum industry but also have a significant impact on global oil markets. The dynamics of supply, production, and consumption outlined in the report play a crucial role in determining the direction of oil prices. This data helps traders, investors, and policymakers make informed decisions in an ever-evolving energy landscape.

Source: https://ir.eia.gov/wpsr/wpsrsummary.pdf

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39 pips potential profit in 118 seconds on 17 October 2023, analysis on futures forex fx news trading USDCAD on Canada Consumer Price Index (CPI) data

According to our analysis USDCAD moved 39 pips on Canada Consumer Price Index (CPI) data on 17 October 2023.

USDCAD (39 pips)

Charts are exported from JForex (Dukascopy).

In September 2023, Canada's Consumer Price Index (CPI) displayed a year-over-year increase of 3.8%, indicating a slight deceleration from the 4.0% gain observed in the previous month of August. This deceleration was influenced by lower prices in several key areas, including travel-related services, durable goods, and groceries.

Despite this moderation, there was an exception to the overall trend: gasoline prices. Gasoline prices accelerated their year-over-year increase in September, with a significant rise of 7.5%. This increase can be attributed to a base-year effect and a notable contrast to the previous month's modest gain of 0.8%.

As Canadian inflation showed signs of moderation, the USD/CAD exchange rate responded with a 39-pip rally. The pair, which represents the value of the US dollar against the Canadian dollar, gained momentum in response to the inflation data.

The 39-pip move in the USD/CAD exchange rate indicated a strengthening of the US dollar against the Canadian dollar. While Canada's inflation rate decelerated, the US dollar saw increased demand, likely influenced by shifting investor sentiment and economic data.

On a monthly basis, the CPI saw a 0.1% decrease in September, compared to a 0.4% gain in August. This monthly decrease was mainly driven by a significant drop in gasoline prices by 1.3% in September.

Grocery prices, while continuing to experience a deceleration in their price growth, remained elevated. In September, they increased by 5.8% year over year, following a 6.9% increase in August. The slowdown was mainly due to the base-year effects, as large monthly increases in grocery prices in September 2022 were no longer a part of the 12-month movements.

Some food products experienced a deceleration in price growth, including meat and dairy products, primarily due to base-year effects. However, fresh fruit, fish, bakery products, and edible fats and oils saw an increase in their year-over-year price growth in September compared to August.

Air transportation costs, which were down by 21.1% year over year, highlighted the notable decline in consumer spending on travel. The decline in air transportation costs coincided with an increase in flights offered by airlines over the previous 12 months.

Furthermore, durable goods, such as furniture and household appliances, experienced a deceleration in their price growth, rising at a slower pace of 0.4% year over year in September, compared to the 1.4% increase in August. This slowdown in price growth was influenced by improvements in inventory levels compared to the previous year.

On the contrary, prices for non-durable goods experienced an acceleration in price growth, with several categories, including fresh fruit, fish, bakery products, and edible fats and oils, seeing notable increases in their year-over-year price growth.

This data reflects the evolving trends in Canadian inflation, highlighting how various factors, including base-year effects and consumer behaviors, have influenced the overall rate of price growth. Despite this moderation, many goods, particularly in the grocery sector, continue to see elevated prices, which can impact the cost of living for Canadian consumers.

The 39-pip rally in the USD/CAD exchange rate underscores how financial markets respond to economic data releases, and it can serve as an example of the intricate relationship between economic indicators and currency movements. Investors and traders closely monitor such data to make informed decisions in the foreign exchange market.

For more detailed insights and to explore the Canadian Consumer Price Index, you can access the official data on the Statistics Canada website. Additionally, stay updated on the latest developments in the USD/CAD exchange rate for a deeper understanding of the currency market dynamics.

Source: https://www150.statcan.gc.ca/n1/daily-quotidien/231017/dq231017a-eng.htm

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