EUR/USD dropped 0.43%. Eurozone inflation fell 0.1% in May.

EUR/USD had a volatile session today fluctuating around 1.1130 – 1.1300. As of 1:00 PM EDT the pair was trading at 1.1213, which is 0.43% lower than the previous close.

European shares dropped to the lowest level in almost four months. Below is presented the performance of major indices:

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  • FTSE 100 closed at 5,950.48, down 0.27%.
  • CAC 40 lost 0.45% finishing at 4,153.01.
  • Euro Stoxx 50 was trading at 2,819.30 as of 5:50 PM GMT, which represents 0.39% decline from the previous close.

According to the report from Eurostat released today, the inflation in the Eurozone area declined 0.1% in May from a year ago, meeting the analysts’ expectations. This result is way below the European Central Bank’s target rate of 2%.

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UK’s retail sales surprisingly rose in May, driven by the increase in clothing sales. According to the report from the Office of National Statistics, the retail sales increased 0.9% in May from a month earlier, compared to the analysts’ forecast of 0.2% rise.

Oil prices dropped to their lowest level in a month. As of 1:04 PM EDT the WTI Crude was trading at 46.72 USD/bbl down 2.69% and Brent Crude at 47.71 USD/bbl, which is 2.57% lower than the previous close.

“It is mainly risk aversion ahead of the Brexit vote next week, so we see some profit-taking on recent long positions ahead of this event,” said Hans van Cleef, senior energy economist at ABN Amro in Amsterdam.

The Energy Information Administration announced yesterday that the US crude inventories dropped 933,000 barrels last week, which is less than the 2.3-million-barrel decline expected.

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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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