EUR/USD down 0.29%. UK unemployment unchanged at 5.1%.

EUR/USD declined today. As of 1:00 PM EDT the pair was trading at 1.1279, which is 0.29% lower than the previous close.

Barclays analysts provided their outlook on EUR/USD today. “Our bearish view was encouraged by the close below support in the 1.1360 area. Our next targets are towards the 1.1215 range lows and then lower towards 1.1125” written in the report.

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Eurozone shares finished mixed today. Below is presented the performance of major indices:

  • FTSE 100 closed at 6,165.80, down just 0.03%.
  • CAC 40 rose 0.51% finishing at 4,319.30.
  • Euro Stoxx 50 closed at 2,956.43, which is 0.62% higher than the previous close.

The European Union’s statistics agency reported today that the Eurozone consumer prices declined 0.2% in April, representing the second consecutive month of deflation. “I am more worried about deflation. With this come bankruptcies and very negative effects on the real economy. I believe we still face a concrete deflation risk” said the ECB governing council member Ignazio Visco.

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The UK unemployment rate stayed unchanged at 5.1% in March according to the report from the Office of National Statistics today. “Employment in the UK could easily be topping out as we head into the UK’s referendum on its EU membership. Naturally as an economy gets closer to full employment the incremental gains that can be made in the labour market weaken; record highs of employment see to that” said Jeremy Cook from World First.

Oil prices were trading higher today. As of 1:55 PM EDT the WTI crude was trading at 48.76 USD/bbl up 0.93% and Brent Crude at 49.50 USD/bbl, which represents a 0.45% increase 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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