EUR/USD at 1.1135. Oil prices moderately increased today.

EUR/USD slightly increased today. As of 6:00 PM EDT the pair was trading at 1.1135, which is 0.18% higher than the previous close.

Commerzbank analyst Karen Jones provided targets on EUR/USD today. “EUR/USD’s bounce last week failed to make any impression on its first resistance at 1.1216 the 25th April low, leaving immediate attention on support. We start today sitting on the 1.1102/1.1058 key support. This is the location of the 200 day ma, the 55 week ma, the December high, the March 16 low and the short term uptrend. This is major support and it is possible that it will again hold. Very near term we look for rallies to remain capped by 1.1280/1.1332” written in the report.

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US stock markets were closed today on Memorial Day Holiday.

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James Bullard, the St. Louis Federal Reserve President, announced today that markets are ready for the interest rate hike in summer, however he didn’t indicate the exact date. “My sense is that markets are well-prepared for a possible rate increase globally, and that this is not too surprising given our liftoff from December and the policy of the committee which has been to try to normalize rates slowly and gradually over time. So my ideal is that if all goes well this will come off very smoothly” said Bullard.

Oil prices had a volatile session today. The WTI Crude closed at 49.60 USD/bbl, up 0.55%. The Brent  Crude was trading at 49.76 USD/bbl as of 1:29 PM EDT, which represents a 0.89% increase 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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