EUR/USD down 0.37%. Eurozone Industrial production dropped 0.8% in March.

EUR/USD declined today. As of 1:00 PM EDT the currency pair was trading at 1.1385, which is 0.37% lower than the previous close.

European shares finished lower. Below is presented the performance of major indices:

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  • FTSE 100 closed at 6,104.19, down 0.95%.
  • CAC 40 fell 0.54% finishing at 4,293.27.
  • Euro Stoxx 50 was trading at 2,935.46 as of 5:50 PM CEST, which represents a 0.72% decline from the previous close.

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According to the data from European Union statistics office, the Eurozone industrial production dropped for a second month in a row. Industrial production in the 19-member single currency bloc fell 0.8% in March from a month earlier, compared with the analysts’ forecast of no change.

“Today’s data and the ongoing weakness of industrial surveys support our view that overall eurozone economic growth is set to slow from 1.5 percent last year to about 1.2 percent this year,” said Stephen Brown from Capital Economics.

Oil prices had a volatile session today. As of 12:42 PM EDT, the WTI Crude was trading at 46.24 USD/bbl up just 0.02% and Brent Crude at 47.45 USD/bbl, which is 0.32% lower than the previous close.

The oil prices were affected by the disruptions in Canada and Nigeria. “These disruptions are temporary and we believe that support to price should remain short-lived. The market remains awash with oil as rising Middle Eastern output is more than offsetting declining U.S. shale production and the various temporary disruptions” said Norbert Ruecker from Julius Baer.

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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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