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What is the impact of EIA data on crude oil and US dollar?
The change of crude oil inventory actually reflects the attitude of the US government towards oil prices. If the strategic crude oil inventory increases substantially, it shows that the US government recognizes the oil price at that time, so it will increase the strategic crude oil inventory to snatch crude oil resources, thus intensifying the contradiction between supply and demand, leading to an increase in oil prices, and vice versa.

Therefore, the difference between EIA crude oil inventory and OPEC crude oil inventory is that EIA has a more direct and greater impact on the US dollar exchange rate.

Generally speaking, 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.

However, the above is just the general operating principle. The market situation is ever-changing, sometimes the data is basically in line with expectations, and the impact on the market may be limited. So we should combine these economic data with the actual market situation.