EUR/USD at 1.1395. Germany’s factory orders sharply increased in March.

EUR/USD had a volatile session today. As of 1:00 PM EDT the pair was trading at 1.1395, unchanged from the previous close.

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

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  • FTSE 100 closed at 6,114.81, down 0.18%.
  • CAC 40 rose 0.50% finishing at 4,322.81.
  • Euro Stoxx 50 was trading at 2,955.83 as of 5:50 PM GMT, which represents a 0.65% increase from the previous close.

According to the report from Destasis, the Germany’s factory orders significantly rose in March. Orders increased by 1.9% in March compared with the decline of 0.8% in February. On a year-to-year basis, orders rose 1.7% from the same period last year.

“The solid economic development in the U.S. is currently an important pillar of (German) domestic industry. So after today’s data, we all can breathe easily” said VP Bank economist Thomas Gitzel.

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“Despite the overcast foreign trade environment, German industry was able to post a noticeable increase in orders from abroad,” written in te statement from the Economy Ministry.

Oil prices dropped today. As of 1:35 PM EDT the WTI Crude was trading at 43.62 USD/bbl down 2.33% and Brent Crude at 43.79 USD/bbl, which is 3.48% lower than the previous close.

“We believe that support to prices should remain short-lived. The market remains awash with oil as rising Middle Eastern output is more than offsetting declining U.S. shale production and the various temporary disruptions,” said Norbert Ruecker, head of commodities research at Julius Baer.

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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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