IShares iBoxx $ Investment Grade Corporate Bond ETF recovering almost all the way back to $101.17 today, after dipping down to $100.65.
New United States Crude Oil Inventories improved upon the previous -3.12 million figure while also exceeding analyst expectations with a reading of 3.92 million.
On the flip side, positive data for iShares iBoxx $ Investment Grade Corporate Bond ETF released earlier when highly important Crude Oil Inventories data from United States beat analyst expectations of 1.36 million with a reading of 3.92 million.
Amid the market gloom, United States Cushing Crude Oil Inventories released today at 15:30 UTC with a figure of -923,000, while the previous figure was 1.27 million. United States API Weekly Crude Oil Stock came out at 5.62 million, while a consensus of analysts was expecting 1.1 million.
IShares iBoxx $ Investment Grade Corporate Bond ETF could begin to recover as it approaches significant support, now 44 cents away from $100.53. Dipping below could be an indication that further losses are ahead. Despite being in the red so far in the current trading session, iShares iBoxx $ Investment Grade Corporate Bond ETF peaked above its 21 day Simple Moving Average around $100.89 — typically an early indicator of a new bullish trend beginning to emerge.
Overall, looking at the technical analysis landscape, it seems iShares iBoxx $ Investment Grade Corporate Bond ETF might start pointing upward in the short term.
In the meantime, negative performances are also seen in other markets, Walt Disney tumbles 12.72% to trade around $87.19. KraneShares CSI China Internet ETF closed at $21.11 (down 6.09%).
In addition, iShares Trust – iShares iBonds Dec 2021 Term Treasury ETF trades close to $25.35, with no major change.
Furthermore, United States Consumer Price Index is expected tomorrow at 13:30 UTC. United States Core Consumer Prices figure is projected at 0.5%. It previously stood at 0.6%; data will be released tomorrow at 13:30 UTC. United States Consumer Price Index figure is projected at 8%. It previously stood at 8.2%; data will be released tomorrow at 13:30 UTC.
IShares iBoxx $ Investment Grade Corporate Bond ETF has shed 10.84% over the past three months.