Previous Trading Days Events 21.08.2024

Crude Oil Inventories US crude oil inventories decreased by 4.649M barrels, outperforming the 2.72M forecast, with Cushing stocks falling by 560K barrels. Gasoline saw a largerthanexpected drop of 1.606M barrels, exceeding the 1M estimate, while distillates fell by 3.312M barrels, contrasting with a projected 40K barrel increase.

FOMC Meeting Minutes The Fed maintained the federal funds rate at 5.255.50 for the 8th consecutive meeting, with inflation still above 2. Rate cuts remain a possibility if inflation meets targets, with scenarios ranging from multiple cuts to none this year.

Winners Vs Losers In The Forex Market

On August 21, 2024, in the forex market, GBPUSD led the gainers, rallying 0.43 and adding 55.7 pips, while AUDCHF was the top laggard, dropping 0.30 with a loss of 17.1 pips.

News Reports Monitor Previous Trading Day 21.08.2024

Server Time Timezone EEST UTC 0300

Tokyo Session No significant news 
London Session No significant news
New York  Session  

Crude Oil Inventories Bullish USD impact; crude down 4.649M vs. 2.72M forecast, Cushing down 560K, gasoline down 1.606M vs. 1M estimate, distillates down 3.312M vs. 40K increase.

FOMC Meeting Minutes Bearish USD; Fed held rates at 5.255.50 for the 8th meeting, inflation above 2, potential for future rate cuts if inflation targets are met.

General Verdict 

The trading day saw mixed USD impacts bullish during the New York session due to significant…