EUR/USD at 1.1331. Eurozone trade balance at 22.5 billion in March.

EUR/USD slightly rose today. As of 1:00 PM EDT the currency pair was trading at 1.1331 which is 0.11% higher than the previous close.
European shares finished mixed today. Below is presented the performance of major indices:

  • FTSE 100 closed at 6,167.77, up 0.27%.
  • CAC 40 lost 0.34% finishing at 4,297.57.
  • Euro Stoxx 50 was trading at 2,938.09 as of 5:50 PM GMT, which is 0.45% lower than the previous close.

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The European Union’s statistics office Eurostat announce today that the Eurozone trade balance in March stood at 22.5 billion euros, which is slightly lower than the analysts’ forecast of 22.5 billion euros. The imports in 19-country region eurozone fell 2.7%, while the exports dropped 1.3%.

The Office of National Statistics reported today that the UK inflation rate dropped for the first time in seven months. The consumer price index declined to 0.3% in April from a the March figure of 0.5%. “The UK’s continuing low inflation is a sign that the economy still lacks the demand needed to get back to full strength. Wage growth remains too weak and we do not have the level of public investment needed to secure stronger growth” said Frances O’Grady from TUC.

Oil prices rose today. As of 12:32 PM EDT the WTI Crude was trading at 48.18 USD/bbl up 0.96% and Brent Crude at 49.28 USD/bbl, which is 0.63% higher than the previous close.
“Supply outages continue to be the key short-term driver for the crude complex, with Canadian and Nigerian production still facing difficulty” said Robbie Fraser, commodity analyst at Schneider Electric.

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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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