EUR/USD at 1.1209. ECB meeting minutes released today.

EUR/USD had a volatile session today. As of 1:00 PM EDT the pair was trading at 1.1209, which is 0.07% lower than the previous close.

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

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  • FTSE 100 closed at 6,053.35, down 1.82%.
  • CAC 40 lost 0.85% finishing at 4,282.54.
  • Euro Stoxx 50 was trading at 2,919.22 as of 5:50 PM GMT, which represents a 1.26% decline from the previous close.

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The minutes from the European Central Bank meeting was released today. “There was general agreement that there was a need to counter the perception that monetary policy could no longer contribute to a return of inflation (to the ECB’s target). In light of recent public criticism … in a Member State, it was viewed as important to reaffirm collectively the independence of the ECB in the pursuit of its mandate. It was considered worrisome that, despite the stabilization in oil prices, market-based inflation expectations had not picked up from their low levels” the minutes said.

The Office of National Statistics reported today that the UK retail sales increased by 1.3% in April compared with the previous month. “Clothing stores remain the main drag on growth in the retail sector, with sales hampered by unseasonal weather. However… sales increased in April compared with March as lower prices boosted sales” said Melanie Richard from ONS.

Oil prices dropped today. As of 12:39 PM EDT the WTI Crude was trading at 47.74 USD/bbl down 0.93% and Brent Crude at 48.38 USD/bbl, which is 1.12% lower than 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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