EUR/USD closed at 1.1200. US stock slightly up.

EUR/USD jumped today more than 1%. It hit the daily high of 1.1237 the highest level since October 22 and closed the session at 1.1200, which is 1.02% higher than the previous close.

There is no evident catalyst behind the large US dollar sell-off for a second day in a row, except the disappointing US data announcements and comments by New York Fed’s president Dudley, whose speech was treated by investors as a suggestion of turning down the interest rate hike plans from Fed.

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Ian Kerrigan from JPMorgan said today, that there is a concern about the Fed’s plans for interest rates, but oil is number one factor now, as we start to see the effect of lower oil.

Oil prices rose today up to 35.84$, however it dropped to levels below yesterday close at the end of the North American session. The WTI Crude closed at $31.72 (-1.73%) and Brent Crude was trading at $34.40 (-1.83%) as of 17:58 ET. Due to low oil prices the Royal Dutch Shell, the Europe’s biggest oil company posted its weakest annual earnings in 13 years. The net profit for 2015 was $3.84 billion compared with 2014 figure of $19 billion.

US equity markets were up today driven by gains in materials and industrials stocks. The performance of major indices is provided below:

  • DJIA closed at 16,416.58, up 0.49%.
  • Nasdaq Composite closed at 4,509.56 slightly above its previous close.
  • S&P 500 increased by 0.15%, finishing at 1,915.45.
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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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