EUR/USD down 0.21%. Eurozone PPI dropped by 1%.

EUR/USD is still trading below 1.09 levels started from the second half of Monday. As of 12:00 PM EST the pair was trading at 1.0845, which represents a 0.21% decline from the previous close.

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

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  • FTSE 100 closed slightly lower today at 6,147.06 (-0.09%).
  • CAC 40 was up 0.41% finishing at 4,424.89.
  • Euro Stoxx 50 was trading at 3,022.14 as of 5:50 PM GMT, which is 0.86% higher than the previous close.

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Today data release from Eurozone showed the inflation figures still stand at low levels. Eurozone PPI dropped by 1.0% in January, representing the worst performance since December 2014. It missed the analysts’ estimates of 0.9% decline. The poor inflation data will probably heighten the pressure on ECB head Mario Draghi to take monetary movement at the ECB’s policy meeting, which will be held next week.

Oil prices were trading below the previous close most of the time today. As of 12:05 PM EST the WTI Crude was trading at 34.33 USD/bbl down 0.2% and Brent Crude at 36.59 USD/bbl, which is 0.6% lower than the previous close.

“Russia, Saudi Arabia, Venezuela and Qatar announced last month that they were willing to freeze production at January levels. Other countries in Africa, Latin America and the Persian Gulf have expressed optimism about joining the deal. Russia and Venezuela said last week they are planning a broad meeting of producers in mid-March” wrote the Wall Street Journal.

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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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