EUR/USD at 1.1385. Germany’s industrial production surprisingly dropped in March.

EUR/USD fluctuated around the yesterday close throughout the day. As of 1:00 PM EDT the pair was trading at 1.1385, unchanged from the previous close.

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

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  • FTSE 100 closed at 6,156.65, up 0.68%.
  • CAC 40 increased 0.36% finishing at 4,338.21.
  • Euro Stoxx 50 was trading at 2,978.97 as of 5:50 PM GMT, which represents a 0.78% gain from the previous close.

According to the Eurozone data released today, the Germany’s industrial production dropped 1.3% in March, lower than the analysts’ estimate of 0.2% decline.

“Overall, the German economy appears to have made a strong start to the year, putting the risks to our forecast of 1.2 percent annual growth to the upside. But we still see growth slowing as the year goes on” said Jennifer McKeown from Capital Economics in London.

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Another report from Destatis statistical agency showed that Germany’s trade surplus rose to 23.6 billion euros in March, as exports increased 1.9% from February but imports decreased 2.3%. The surplus represents the highest figure since August 1990.

Oil prices rose today. As of 1:36 PM EDT the WTI Crude was trading at 44.41 USD/bbl up 2.23% and Brent Crude at 45.22 USD/bbl, which is 3.64% higher than the previous close.

Oil prices recovered after recent losses triggered by the wildfire in Canada, which scorched a significant part of Alberta’s oil town Fort McMurray, where an estimated of 1.6 million bpd were lost according to the note from consultancy Energy Aspects.

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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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