What does EIA data mean?

EIA is an official organization under the American Energy Information Association and the US Department of Energy. At present, traders in the market and international authoritative energy consulting institutions all use EIA inventory data.

Generally, the data is published once a week, and the time is Wednesday night 1 1: 30 (daylight saving time 10:30), which will have a certain impact on the foreign exchange market and precious metals market.

When crude oil stocks increase, it shows that there is an oversupply of crude oil in the market, which leads to a drop in oil prices, a rise in the dollar and a fall in gold.

When the crude oil inventory decreases, it shows that the market demand for crude oil is strong, which leads to the rise of oil price, the fall of US dollar and the rise of gold.

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