EUR/USD at 1.1067. Oil dropped more than 4%.

EUR/USD opened higher today but gradually declined throughout the day reaching the yesterday close. As of 6:00 PM EDT the pair was trading at 1.1067, which represents just 0.04% increase from the previous close.

Global shares finished mostly lower today. Below is presented the performance of major indices:

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  • Nasdaq Composite closed at 3,006.39, rising 0.60%.
  • Nikkei 225 lost 0.67% finishing at 15,669.33.
  • FTSE 100 rose 0.35% closing at 6,545.37.
  • Euro Stoxx 50 finished at 2,812.88, down 1.72%.
  • DJIA fell 0.61% finishing at 17,840.62.
  • S&P 500 closed at 2,088.55, which represents 0.68% decline from the previous close.

China’s service sector activity increased in June reaching the 11-month high. The Caixin/Markit services purchasing managers’ index (PMI) rose to 52.7 from 51.2 in May on a seasonally adjusted basis. “Service sector growth is now supporting the overall economy, and the expansion for services is coming at a time when the manufacturing index is contracting, suggesting the nation’s economic structure is becoming more balanced. The government must continue to relax service sector controls to encourage its development and push forward the nation’s economic transformation.” said Zhengsheng Zhong from CEBM Group.

Bank of England Governor Mark Carney announced today that the bank won’t be able to fully offset the future economic adversities but can ease the pain. “The U.K. has entered a period of uncertainty and significant economic adjustment. The bank has a clear plan. We are rapidly putting its main elements in place. And it is working” said Carney.

US factory orders fell in May. According to the report form the Commerce Department, the factory orders declined 1%, meeting the analysts’ expectations.

Oil prices dropped today. The WTI Crude closed at 46.60 USD, down 4.88%. The Brent Crude was trading at 48.17 USD/bbl as of 5:44 PM EDT, which represents 3.85% decline from the previous close.

 

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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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