EUR/USD pair for Jan 14

The North American trading session was relatively stable compared with the rest of the trading day. The EUR/USD was fluctuating in the range of 1.0847-1.087, as opposed to European trading session, when it largely declined.

The U.S stock market closes higher today. The major indices had the following performances:

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  • Dow Jones Industrial Average gained 227.64 points, which is 1.41% more than the yesterday closing price. It was drove mainly by energy companies, like Chevron Corporation and Exxon Mobil Corporation, which increased by 5.03% and 4.49% respectively.
  • NASDAQ Composite was up 88.94 points or 1.97% today.
  • S&P 500 increased by 31.56 points, which is 1.67%.

The market closes today at EUR/USD = 1.0862 or 0.19% below the latest close price.

The major impact on lower EUR/USD in the middle of the trading day had the fact concerning ECB minutes of December meeting, according to which some members desired a larger cut on a deposit rate.

The US dollar strengthened due to gains in U.S. stock market and an increase in oil prices.

Oil prices finally were up today after a major decline. Brent Crude price increased by 2.38% reaching a price of 31.03 USD/bbl and WTI Crude oil price increased by 2.36% and closes at 31.2 USD/bbl.

US dollar was strong today in relation to other currencies either. The USD/JPY was up 0.43%, and GBP/USD declined by almost 0.4% during the middle of the day, but then recovered and closed at 1.4417 or -0.03%.

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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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