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- Written by TradersCom
- Category: Energy
WTI Oil Futures rose after EIA reported a draw in crude of 7990kbbl (including a +254kbbl build at Cushing and a draw of -10,410kbbl in PADD3 (GulfCoast)). Gasoline stocks rose +737kbbl and Utilization rose 1.1% at 86.5%, highest since Pandemic began. Production unchanged 10,900 kbpd.
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- Written by ThePitBoss
- Category: Earnings Reports
Real Estate firm Zillow returned a profit for the first quarter versus a loss a year ago. $Z is benefiting from the housing boom where US March housing starts soared in March 19.4%, the highest reading since June of 2006. The median existing home price was the highest on record.
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- Written by TradersCom
- Category: Economy
The favorite inflation measure of the Fed, core PCE Price Index, which excludes food and energy, increased 0.4% ahead of consensus 0.3% and up from last month's +0.1%, putting it up 1.8% year-over-year. The PCE Price Index jumped 0.5%, as expected, putting it up 2.3% year-over-year, the most since 2018
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- Written by Helmholtz Watson
- Category: Central Banks
The Swiss National Bank announced they are to test a transfer of central bank digital currency funds. "We will try some cross-border functionality." "There will be another central bank and another currency other than the Swiss franc. " said Thomas Moser of the SNB's governing board. The test follows the researxh paper "How to Issue a Central Bank Digital Currency"
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- Written by TradersCom
- Category: Energy
Natural gas futures fell after EIA reported a less than expected build of +15 Bcf in gas storage last week. The Midwest saw only 7 Bcf injected and salt storage had a build of 5 Bcf, 11 Bcf lower than the same week last year. These surprises suggest a pre-winter inventory level of 3.3 Tcf or lower.
