EUR/USD down 0.36%. Oil prices almost unchanged.

EUR/USD slightly fell today after a two-day rally started on Wednesday. As of 13:00 PM EDT the pair was trading at 1.1273, which is 0.36% below the previous close.

“The ECB appears to have left the currency war and we continue to see a strong case for EUR/USD range-trading in the coming months. With less support to USD from relative rates, the fair range has probably shifted higher. Our short-term financial models signal that EUR/USD is currently overbought, implying a short-term fair value at 1.0940” said in the report from Danske Bank.

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European shares were mixed today. The performance of major indices is presented below:

  • FTSE 100 closed a bit lower at 6,189.64 (-0.19%).
  • CAC 40 increased by 0.44% finishing at 4,462.51.
  • Euro Stoxx 50 was trading at 3,059.77 as of 5:30 PM GMT, which is 0.55% higher than the previous close.

European markets closed this week almost unchanged. CAC 40 and Euro Stoxx 50 lost 0.88% and 0.46% respectively, while FTSE 100 increased by 0.81%.

Oil prices slightly fell after hitting new yearly highs. WTI Crude was trading at 40.12 USD/bbl (-0.20%) as of 12:38 PM EDT after reaching $41.20 during the afternoon session. Brent Crude was trading at 41.54 USD/bbl (unchanged) dropping from daily high of $42.54.

Oil prices are climbing for the fifth week in a row. It seems that investors have high expectations from the upcoming meeting in Doha, where the OPEC and non-OPEC producers will have a discussion on cooperative production freeze.

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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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