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Crude Oil Moves Higher Ahead Of EIA Inventory Data

Crude oil futures are moving higher Wednesday morning, ahead of official inventory data from U.S. Energy Information Administration. The decision of OPEC and its allies to cut crude production by 1.2 million barrels per day from January 2019 and an unexpected supply cut from a Libyan oilfield are aiding oil’s uptick. The American Petroleum Institute’s…

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U.S. Consumer Prices Unchanged Amid Sharp Pullback In Gas Prices

With a sharp pullback in gasoline prices offsetting increases in other prices, the Labor Department released a report on Wednesday showing consumer prices came in flat in the month of November. The report said the Labor Department’s consumer price index was unchanged in November after rising by 0.3 percent in October. The unchanged reading matched…

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Eurozone Industrial Production Rebounds Signaling Growth Pick Up

Eurozone’s industrial production grew in October after a slump in the previous month, suggesting that economic growth may gain some steam towards the end of the year, yet remain sluggish. Industrial production rose 0.2 percent from September, when it declined 0.6 percent, which was revised from 0.3 percent, figures from Eurostat showed on Wednesday. The…

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Hungary Industrial Production Rebounds In October

Hungary’s industrial production increased in October after declining in the previous month, data from the Hungarian Central Statistical Office showed on Wednesday. Industrial production rebounded with 5.9 percent year-on-year growth in October after a 3.4 percent decline in September. Thus the preliminary estimate was confirmed. After working days adjustments, production rose by 3.3 percent from…

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U.S. Consumer Prices Unchanged In November

With a sharp pullback in gasoline prices offsetting increases in other prices, the Labor Department released a report on Wednesday showing consumer prices came in flat in the month of November. The Labor Department said its consumer price index was unchanged in November after rising by 0.3 percent in October. The unchanged reading matched economist…

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Dollar Little Changed Following U.S. CPI

The Labor Department has released U.S. consumer price index for November at 8:30 am ET Wednesday. After the data, the greenback changed little against its major counterparts. The greenback was trading at 1.1342 against the euro, 1.2579 against the pound, 0.9944 against the franc and 113.38 against the yen around 8:32 am ET. The material…

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Dollar Weakens Ahead Of U.S. CPI

The Labor Department will release U.S. consumer price index for November at 8:30 am ET Wednesday. Economists expect a flat reading on month after a 0.3 percent rise in October. Ahead of the data, the greenback dropped against its major counterparts. The greenback was worth 1.1350 against the euro, 1.2584 against the pound, 0.9940 against…