EUR/USD stayed flat. Oil prices are falling.

EUR/USD was relatively stable throughout the day, fluctuating from 1.1072 to 1.1126. As of 6:00 PM EDT the pair was trading at 1.1106, almost flat.

The pair stayed almost unchanged ahead of the news from Fed’s policy meeting. Although investors think that Fed will held the interest rates unchanged, the tomorrow’s announcement can provide hints on future rate hikes.

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US markets were trading mostly lower today. Below is provided the performance of major indices:

  • DJIA opened lower, however it managed to finish the session with 0.13% increase after rebounding at the end of the session,
  • Nasdaq Composite lost 0.45% closing at 4,728.67.
  • S&P 500 closed at 2,015.93, down 0.18% from previous close.

The Commerce Department announced today that the US retail sales decreased 0.1% in February, which is less than expected. However a downward revision of January data to 0.4% decline from 0.2% increase may raise concerns about future growth opportunities. After this announcement Barclays cut its estimate of 2.4% growth for US GDP to 1.9%.

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The oil prices continue to decline for a second day in a row. The WTI Crude closed at 36.34 USD/bbl, which is 2.16% lower than the previous closing price. The Brent Crude was trading at 38.96 USD/bbl as of 5:34 PM EDT, which represents a 1.44% decline.

“The rally is now retreating on fears that OPEC will continue to flood the market with oil in a world where demand may falter,” said Phil Flynn from Price Futures Group.

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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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