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Last week, we saw a slight decrease in U.S. crude oil inventories, with actual numbers coming in at 4.9%, just below the forecast of 5.0%. This news could lead to a modest increase in oil prices, which could have a ripple effect on the broader economy.
On the job market front, the U.S. initial jobless claims came in at 264K, above the forecast of 245K, and the previous week's number of 242K. While the increase is modest, it's worth keeping an eye on as it could indicate potential future trends.
Lastly, the U.S. Producer Price Index (PPI) MoM came in at 0.2%, slightly below the forecast of 0.3%, but a marked improvement from the previous month's -0.4% number. This indicates that inflation may be starting to stabilize.
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