EUR/USD at 1.1126. Fed is changing the plans.

EUR/USD was moving sideways throughout the day. It closed at 1.1126, which represents a 0.14% decline from the previous close.

US markets continued the three-day rally started on Friday. The major indices have the following performance today:

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  • DJIA gained 1.59% closing at 16,453.83.
  • Nasdaq Composite jumped 2.21% finishing the session at 4,534.06.
  • S&P 500 rose 1.65%.

A report from Fed minutes released today showed that the officials were worried about global slowdown and were concerned about the US economy which could be hurt by it. As a result, Fed considered changing its plans for further interest rate hike in 2016.


According to the data published today, the US industrial production in January increased by 0.9%, which is the biggest gain since November 2014. It was driven by the growth in manufacturing and utilities output.

Oil prices rocketed today. The WTI Crude closed at 30.66 USD/bbl, up 5.58%. As of 5:39 PM EST the Brent Crude was trading at 34.94 USD/bbl, representing a 8.58% gain. The price increase was caused by Iran’s support for limiting the oil output levels, offered by Russia and Saudi Arabia.

Moreover, the American Petroleum Institute reported that US crude oil inventories dropped by 3.3 million barrels last week, compared with the analysts average estimate of an increase of 3.1 million barrels.

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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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