EUR/USD at 1.1209. Oil prices fell 1.5%.

EUR/USD had a volatile session today fluctuating around the yesterday close. As of 1:00 PM EDT the pair was trading at 1.1209, which is 0.08% below the previous close.

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

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  • FTSE 100 closed at 6,136.43, down 0.32%.
  • CAC 40 lost 0.66% finishing at 4,325.10.
  • Euro Stoxx 50 was trading at 2,932.93 as of 5:50 PM GMT, which is 0.99% lower than the previous close.

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According to the data released by Markit, the Eurozone manufacturing activity dropped to the three-month low in May. The manufacturing PMI fell to 51.5 in May from 51.7 in April. A reading above 50 indicates expansion in the sector.

The services PMI stood at 53.1 in May, unchanged from the previous month.

Oil prices fell today. As of 12:37 PM EDT the WTI Crude was trading at 47.76 USD/bbl down 1.34% and Brent Crude at 47.97 USD/bbl, which is 1.54% lower than the previous close.

“Upward price momentum appears to be slowing as we feel that this late winter/spring bull move is in a very advanced stage with only about $3 to $4 a barrel remaining on the upside in referencing either WTI or Brent futures” said Jim Ritterbusch of Chicago-based oil consultancy Ritterbusch & Associates.

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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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