EUR/USD dropped 0.64%. UK services PMI fell in April.

EUR/USD sharply dropped during European session today. As of 1:00 PM EDT the pair was trading at 1.1413, which is 0.64% lower than the previous close.

European shares closed almost unchanged from the yesterday close. Below is presented the performance of major indices:

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  • FTSE 100 closed at 6,117.25, up 0.09%.
  • CAC 40 decreased by 0.11% finishing at 4,319.46.
  • Euro Stoxx 50 was trading at 2,940.35 as of 5:50 PM GMT, which is just 0.05% above the previous close.

According the report from the research firm Markit, its services Purchasing Managers’ Index (PMI) in UK dropped to 52.3 in April from 53.7 in March. A reading above 50 is a signal of expansion in the sector.

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“Some of the slowdown may be attributable to the early timing of Easter, though April also saw an increase in the number of companies reporting that uncertainty about the EU referendum caused customers to hold back on purchases, exacerbating already-weak demand linked to global growth jitters and ongoing government spending cuts. The deterioration in April pushes the surveys into territory which has in the past seen the Bank of England start to worry about the need to revive growth.” said Chris Williamson from Markit.

Oil prices rose today. Yesterday the oil was trading at more than 7% below the last week’s high. As of 12:53 PM EDT the WTI Crude was trading at 44.86 USD/bbl up 2.47% and Brent Crude at 45.43 USD/bbl, which represents a 1.82% increase from 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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