EUR/USD down 0.25%. Brent oil above $44.

EUR/USD fell during European session today. As of 1:00 PM EDT the pair was trading at 1.1375, which is 0.25% lower than the previous close.
The technical strategy team at Barclays Capital provided their setups for EUR/USD. “Our decision to turn bearish is being frustrated by the lack of downside follow through. We are looking for a low daily close to signal lower towards our initial targets near 1.1270, the 21-dma and then lower towards the 1.1145 range lows” written in the report.

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

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  • FTSE 100 closed at 6,242.39, up 0.68%.
  • CAC 40 increased 0.77% finishing at 4,345.91.
  • Euro Stoxx 50 was trading at 2,942.09 as of 5:50 PM GMT.

Office for National Statistics (ONS) released data today according to which the UK inflation increased to 0.5% in March.

Inflation currently stands at its highest level since December 2014, but it still remains below the Bank of England’s 2% target.

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“Inflation in the UK has been well below target for most of the last two years, with the sharp declines in oil prices being a particular drag on prices. Even the [year-on-year] core number though, which strips out the direct impact of volatile energy, food, alcohol and tobacco moves, has been well short of the Bank of England’s 2% target and even this month is only expected to rise to 1.3%” written in the report from Oanda.

As of 12:48 PM EDT the WTI Crude was trading at 41.78 USD/bbl up 3.52% and Brent Crude at 44.37 USD/bbl, which is 3.60% higher 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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