EUR/USD down 0.26%. Brent oil above $45.

EUR/USD sharply dropped during European session today. As of 13:00 PM EDT the currency pair was trading at 1.1326, which is 0.26% lower than the previous close.

European shares were up today. Below is mentioned the performance of major indices:

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  • FTSE 100 closed at 6,410.26, up just 0.08%.
  • CAC 40 increase 0.56% finishing the 4,591.92.
  • Euro Stoxx 50 was trading at 3,142.52 as of 5:50 PM GMT, which represents a 0.95% gain from the previous close.

According to the report from Office for National Statistics (ONS) the UK unemployment rose by 21,000 to 1.7 million between December and February. The unemployment rate stayed at 5.1%.

“It’s too soon to be certain, but with unemployment up for the first time since mid-2015 — and employment seeing its slowest rise since that period — it’s possible that recent improvements in the labor market may be easing,” said Nick Palmer from the Office for National Statistics.

Oil prices rebounded at the start of the European session after significantly dropping in the morning today, as the Kuwaiti oil workers finished a three-day strike, which had cut the country’s crude output by more than a half.

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“In honor of his highness the Emir … we have decided the following. First, the cancellation of the general strike and the attendance of all oil sector workers at their places of work beginning at seven in the morning on Wednesday 20 April 2016,” written in the note from the Oil & Petrochemicals Industries Workers Confederation.

As of 12:40 PM EDT the WTI Crude was trading at 42.12 USD/bbl up 2.53% and Brent Crude at 45.18 USD/bbl, which represents a 2.61% gain from 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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