[macro outlook] focus on the change of EIA crude oil inventory in the week ended April 16

SMM4 March 21: today pays attention to the change of EIA crude oil inventory in the week ended April 16.

The annual rate of the UK retail price index in March, which was once widely used to measure inflationary pressures in the UK, is now being replaced by the consumer price index, so its influence is declining. But generally speaking, the rise in retail prices is a harbinger of inflation, and the Bank of England's policy may be tight, which is good for sterling.

Britain's quarterly input PPI annual rate in March, producer output price index (Producers output price index, referred to as PPI) is a measure of inflation through the price changes of British manufacturers when they sell their products and provide services. The core PPI is the producer price index, which excludes food, beverage, tobacco and oil.

EIA crude oil inventory changes in the United States in the week ended April 16, and the increase or decrease in inventory will affect the price of crude oil, which in turn will have an impact on the Canadian dollar, as Canadian crude oil exports account for a large proportion of the economy. The impact is greater than the weekly change in crude oil inventories of the American Petroleum Institute ((API)).