EUR/USD rose 0.40%. UK industrial production in April – biggest monthly jump since 2012.

EUR/USD rose during the European session today. As of 1:00 PM EDT the pair was trading at 1.1400, which represents 0.40% increase from the previous close.

European shares finished mixed today. Below is presented the performance of major indices:

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  • FTSE 100 closed at 6,301.52, up 0.27%.
  • CAC 40 lost 0.61% finishing at 4,448.73.
  • Euro Stoxx 50 was trading at 3,019.76 as of 5:50 PM GMT, which is 0.69% lower than the previous close.

According to the data from Office of National Statistics (ONS) released today, the UK industrial production increased 2% in April compared with the previous month. This gain represents the biggest jump since 2012. Manufacturing production rose 2.3% in April, beating the analysts’ estimate of unchanged reading.

“Manufacturers will be hit by a rising pound after a remain vote, or lower business investment after Brexit. With surveys of manufacturers continuing to point to falling production, it’s simply too soon to conclude that April’s data mark a turning point in the industrial sector’s decline” said Samuel Tombs, chief UK economist at Pantheon Macroeconomics.

Oil prices sharply rose during the European hours today. As of 1:40 PM EDT the WTI Crude was trading at 50.96 USD/bbl up 1.19% and Brent Crude at 52.20 USD/bbl, which is 1.48% higher than the previous close.

“The past few weeks have clearly shown that the U.S. rig count has bottomed. The next question becomes, how confident are the operators in the sustainability of oil prices at these levels?” written in the note from Deutsche Bank.

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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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