EUR/USD down 0.62%. Oil prices rose.

EUR/USD declined during European session after hitting the daily high of 1.0965. As of 12:10 PM EST the pair was trading at 1.0864, which is 0.62% below the previous close.

UOB analysts released a report today concerning EUR/USD pair, which said “The neutral phase that has been in place for about 2 weeks ended last Friday. As highlighted in recent updates, a daily closing below the key 1.0990 would indicate the start of a sustained down-move in EUR. That said, downward momentum is not very strong at this stage and we have a modest target of 1.0810. In order to maintain the current momentum, any rebound should not move above 1.1030”.

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

  • FTSE 100 stayed almost unchanged at 6,097.09.
  • CAC 40 increased by 0.90% closing at 4,353.55.
  • Euro Stoxx 50 finished at 2,935.54, which is 0.22% higher than the previous close.

European markets finished this month with slight loss. The shares dropped to their monthly low levels on February 11, but gradually rose throughout the second half of the month. CAC 40 and Euro Stoxx 50 closed this month with a loss of 1.77% and 3.26%. FTSE 100 finished with just 0.22% gain.

Oil prices rose today following a massive rally last week. As of 11:59 AM EST the WTI Crude was trading at 33.54 USD/bbl up 2.32% and Brent Crude at 35.98 USD/bbl, which is 2.51% above 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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