EUR/USD down 2.71%. Oil prices plunged 5%.

EUR/USD significantly fell today. As of 6:00 PM EDT the pair was trading at 1.1118, which represents 2.71% decline from the previous close.

US shares plunged following the global markets, as investors reacted to Brexit. Below is presented the performance of major indices:

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  • DJIA closed at 17,400.75, down 3.39%.
  • Nasdaq Composite lost 4.12% finishing at 4,707.98.
  • S&P 500 closed at 2,037.41, which is 3.59% lower than the previous close.

Nearly $2 trillion in value was wiped off from the global stock markets today after Britain voted to leave the European Union.

“I think markets were really caught off guard today, that’s why you are seeing a huge risk-off trade. In the end, when markets start to settle down, I think they are going to realize that this is not the end of the world” said Jeff Kravetz, a strategist at the Private Client Reserve at U.S. Bank.

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According to the US data released today, the University of Michigan’s final index of consumer sentiment declined to 93.5 in June, compared to a reading of 94.7 in the previous close. “We expect some impact of Brexit via the stock market on consumer attitudes but it would depend on how long-lasting it is. It could be substantial” said Richard Curtin, director of the University of Michigan consumer survey.

Another report from US showed that the factory goods dropped to 2.2% in May, much worse than the analysts expected.

Oil prices sharply fell today. The WTI Crude closed at 47.57 USD/bbl, down 5.07%. The Brent Crude was trading at 48.42 USD/bbl as of 5:12 PM EDT, which is 4.89% lower than 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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