EUR/USD stayed flat. Crude price above $37.

EUR/USD was relatively stable today. The pair varied from 1.0825-1.0881 during the day closing at 1.0867, unchanged from the previous close. EUR/USD fluctuates in a range of 1.0825-1.0960 this week following a sharp drop from 1.1050 levels on Friday.

US shares experienced a moderate gain today driven mainly by energy and telecommunications sectors. The performance of major indices is provided below:

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  • DJIA closed at 16,899.32, up 0.20%.
  • Nasdaq Composite increased by 0.29% finishing at 4,703.42.
  • S&P 500 closed at 1,986.45, which is 0.41% above the previous close.

San Francisco Federal Reserve President John Williams commented on possible number of Fed rate hikes this year.

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“I am not going to opine whether we should have one fewer or the same as before. It is really just the tactics, how many rate increases this year versus next year. It’s not a fundamentally different view of the economy. I am not saying it would be exactly the same thing but the difference would be pretty modest.” Said Williams.

Oil prices rose during North American session after trading below the previous close throughout the earlier sessions. WTI Crude closed at $34.66, which is 0.76% higher than the previous closing price. As of 5:41 PM EST the Brent Crude was trading at $37.05, up 0.65%.

“I think there’s more near-term upside if we hold $34.80. The next level would be $37 – $38. Stocks, they still look like they want higher. They’re really holding on to those gains.” said John Caruso from RJO Futures.

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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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