EUR/USD down 0.52%. Oil’s biggest one-day gain since 2009.

EUR/USD closed today at 1.1256, down 0.52% from previous close. However, the rate has increased approximately by 0.9% this week. It reached its weekly peak of 1.1377 on Thursday, the highest level since October 2015. Today’s Eurozone Q4 GDP growth results of 0.3% met the analyst expectations. Considering these results, the analysts at Wells Fargo believe that the European Central Bank will ease policy further at the next meeting. They are also prone to think that Fed will further increase the interest rate, which make them expect that euro will weaken in the medium term.

The US stocks rebounded from yesterday lows. The major indices performed the following way:

EURO-DOLLAR.Com Top Forex Brokers
Trade EUR/USD with AVA Trade
Trade EUR/USD with eTORO
Trade EUR/USD with XM.Com
  • DJIA closed at 15,973.84, up 2.00%.
  • Nasdaq Composite rose by 1.66%, finishing at 4,337.51.
  • S&P 500 closed the session at 1,864.78 (+1.95%).

However the indices are still trading well below their year-end levels, with DJIA, Nasdaq Composite and S&P 500 down 8.35%, 13.4%, and 8.78% respectively.

Oil prices jumped more than 13% today on comments from UAE energy minister, who announced the OPEC’s readiness to cooperate on production cuts. It represents a biggest one-day gain since February 2009.

b jh

WTI Crude rocketed to $29.66 during the North American session today and closed at $29.44, up 12.32% from previous close. However the WTI is still down 4.7% for the week, noting that it even hit $26.05 on Thursday, which represents its 13-year low. Brent Crude was trading at $32.68 as of 5:44 PM EST, which is 8.72% above the previous close. The benchmark has lost 4% for the week.

AVA Trade
Trade With Confidence
Award-winning innovative broker. Segregated accounts with leading international banks.+200 financial instruments for trading.
XM
$30 No Deposit Bonus
Open an XM Zero account and trade with spreads as low as 0! Average EUR/USD spread 0.1
eToro Social Trading
Copy Successful Traders
Automatically copy leading traders in eToro community. Expert trader? get copied yourself to earn a second income!

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.

Tags: , ,

Leave a Reply

You must be logged in to post a comment.