EUR/USD at 1.1284. US industrial production fell 0.6% in March.

EUR/USD closed slightly higher today. As of 6:00 PM EDT the pair was trading at 1.1284, which is 0.18% above the previous close.

The technical strategy team at Barclays Capital provided its outlook on EUR/USD today. “The break below 1.1310, the 21-dma, encourages our bearish view towards initial targets near 1.1210 and then the 1.1145 range lows. Beyond there, we are looking for a move towards the 1.0820 area.” written in the report.

EURO-DOLLAR.Com Top Forex Brokers
Trade EUR/USD with AVA Trade
Trade EUR/USD with eTORO
Trade EUR/USD with XM.Com

US shares finished a bit lower today. The performance of major indices is presented below:

  • DJIA closed at 17,897.46, down 0.16%.
  • Nasdaq Composite declined 0.16% finishing at 4,938.22.
  • S&P 500 closed at 2,080.73, which is just 0.10% lower than the previous close.

The US indices closed positively this week with DJIA, Nasdaq Composite and S&P 500 posting a 1.81%, 1.8% and 1.6% gain respectively.


According to the report from Federal Reserve, the US industrial production declined more than expected in March. Industrial output dropped 0.6% in March after falling 0.6% in February. The analysts had estimated the output to fall only 0.1%.

Oil prices dropped today. The WTI Crude closed at 40.36 USD/bbl, down 2.75%. The Brent Crude was trading at 43.00 USD/bbl as of 5:31 PM EDT, which represents a 1.92% decline from the previous close.

The meeting of oil producing countries is scheduled on Sunday, where a cooperative oil production freeze deal will be discussed.

“The freeze distracts from the important supply side adjustments going on in the market right now. It buys OPEC time, and helps reaffirm their importance in the aftermath of a failed December meeting,” said Michael Cohen from Barclays.

AVA Trade
Trade With Confidence
Award-winning innovative broker. Segregated accounts with leading international banks.+200 financial instruments for trading.
$30 No Deposit Bonus
Open an XM Zero account and trade with spreads as low as 0! Average EUR/USD spread 0.1
eToro Social Trading
Copy Successful Traders
Automatically copy leading traders in eToro community. Expert trader? get copied yourself to earn a second income!

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.

Tags: , ,

Leave a Reply

You must be logged in to post a comment.