EUR/USD down 0.29%. ECB will likely ease the monetary policy.

EUR/USD declined slightly today. As of 12:00 PM EST the currency pair was trading at 1.1093, 0.29% down from previous close.

ECB minutes released today showed that the officials are likely to further ease the monetary policy in the upcoming meeting. According to the report, ECB is concerned about external demand outlook for eurozone driven by the slowing global growth.

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“Inflation had continued to be weaker than expected, mainly owing to the renewed sharp fall in oil prices, but also to persistently subdued underlying price pressures. Weaker than anticipated growth in wages, in conjunction with declining inflation expectations, could also signal increased risks of second-round effects,” the bank reported.

European markets were slightly down today. Below is presented the performance of major indices:

  • FTSE 100 lost 0.97% and closed at 5,971.95.
  • CAC 40 finished at 4,239.76, just 0.15% above the previous close.
  • Euro Stoxx 50 was trading at 2,893.79 as of 5:30 PM GMT, down 0.14%.

As of 11:34 AM EST, the WTI Crude was trading at 30.82 USD/bbl, 0.52% above the previous close. Brent Crude was trading at 34.35 USD/bbl, which represents a 0.43% decline.

A report from Energy Information Administration published today showed that crude inventories increased by 2.1 million barrels in the last week, which is lower than the analysts’ expectation of 3.9 million barrels.

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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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