EUR/USD down 0.16%. ECB meeting minutes released.

EUR/USD finished the European session slightly lower, despite reaching 1.1455 highs during Asian session. As of 1:00 PM EDT the currency pair was trading at 1.1376, which is 0.16% below the previous close.

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

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  • FTSE 100 finished at 6,136.89, down 0.40%.
  • CAC 40 lost 0.90% closing at 4,245.91.
  • Euro Stoxx 50 was trading at 2,871.57 as of 5:50 PM GMT, which represents a 1.30% decline from the previous close.

The European Central Bank (ECB) release minutes of its March policy meeting which was held in Frankfurt. The minutes revealed that the bank is ready to ease the monetary policy further if more risks to the economic outlook arises.

“If further adverse shocks were to materialize, our measures could be recalibrated once more, commensurate with the strength of the headwind, also taking into account possible side-effects. Even before the latest round of stimulus the ECB’s measures have provided significant support to output and inflation.” said Peter Praet, the chief economist of ECB.

“We face uncertainty about the outlook for the global economy. We face continued disinflationary forces. And we face questions about the direction of Europe and its resilience to new shocks. In that environment, our commitment to our mandate will continue to be an anchor of confidence for the people of Europe.” wrote the president of ECB Mario Draghi.

Oil prices gradually declined throughout the European session. As of 12:40 PM EDT the WTI Crude was trading at 36.79 USD/bbl down 2.54% and Brent Crude at 38.93 USD/bbl, which is 2.28% lower than the previous close.

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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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