EUR/USD failed to stay above 1.09 level. World stocks rose today.

EUR/USD traded in a range of 1.0859-1.0915 as of 12:00 PM EST today. The currency pair failed to hold above the 1.09 level. It touched 1.0915 and again slid, closing the European session at 1.0904, which represents a 0.14% increase from the previous close.

Performance of other major currency pairs as of 12:00 PM EST are shown below:

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  • USD/JPY – up 0.23%
  • GBP/USD – down 0.60%
  • USD/CNY – up 0.25%
  • USD/CHF – down 0.20%
  • USD/CAD – down 0.24%
  • AUD/USD – up 0.92%

World stocks rose today starting from Asian session affected by China economic data announcement and not surprisingly the European shares followed the up trend. Major European indices have the following performance today:

  • FTSE 100 closed at 5,876.5, which is 1.68% higher than the previous close price.
  • CAC 40 was up by 1.97% closing at 4,272.26.
  • Euro Stoxx 50 was trading at 2,978.18 (+1.46%) as of 12:18 PM EST

ECB

Among major events during European session were:

  1. The European Central Bank (ECB) said in its bank lending survey (BLS) on Tuesday that borrowing conditions for businesses in the Eurozone are expected to continue to improve. Banks continued to facilitate their terms and conditions on loans, the main reason for which is considered to be the competition. According to the survey, the demand for loans continues to increase.
  2. As per Reuters report on Tuesday, its preliminary calculations showed that oil consumption in China amounted to 10.32 million barrels a day in 2015, up 2.5% from 2014.
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I’m a finance specialist with 4+ years of working experience, out of which 2 years as a SME relationship manager at Byblos Bank and 2 years as a Finance Director in a Food & Beverage sector. My academic background include BA in economics, MA in finance, CFA Level 1 and F1, F2, F3 level of ACCA. I’m also experienced in Forex/CFD trading and Forex/ Equity markets analysis.

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