EUR/USD down 0.25%. Brent Crude rose above $40.

EUR/USD was trading a bit lower throughout the day. As of 1:00 PM EDT the rate was standing at 1.1079, which is 0.25% below the previous close.

Markets focus on Fed announcement today. Although the interest rates are expected to remain unchanged, the comments from Janet Louise Yellen may reveal valuable information on upcoming rate hikes.

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“We believe that the recent improvement in risk sentiment and a likely more hawkish Fed will cap the top side in EUR/USD in the coming months. We continue to see EUR/USD in a 1.05-1.15 range in the coming months but still hold the view that EUR/USD will head substantially higher in 2016” said Morten Helt from Danske Bank.

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

  • FTSE 100 gained 0.58% closing at 6,175.49.
  • CAC 40 finished at 4,463.00, down 0.22%.
  • Euro Stoxx 50 was trading at 3,062.52 as of 5:30 PM GMT, which represents a 0.15% decline from previous close.

Oil prices rose today driven by the announcement concerning an upcoming meeting by oil producing countries, despite Iran’s decision not to participate.

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The meeting will be held on April 17 in Doha, where the OPEC and non-OPEC producers will participate. “To date, around 15 OPEC and non-OPEC producers, accounting for about 73 percent of global oil output, are supporting this initiative” said Qatari Energy Minister Mohammed bin Saleh Al-Sada.

As of 12:26 PM EDT the WTI Crude was trading at 37.86 USD/bbl up 4.18% and Brent Crude at 40.21 USD/bbl, which is 3.79% higher than the previous closing price.

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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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