EUR/USD steady at 1.1149. Oil prices fell 1%.

EUR/USD was relatively stable today, fluctuating around the Friday’s close. The pair was trading at 1.1149 as of 6:00 PM EDT, unchanged from the previous close.

Barclays analysts provided their outlook on EUR/USD today. “We are clinging to a bearish view. A move above resistance in the 1.1180 area would force us to turn neutral. For now, we are looking for a move lower in range towards initial targets near 1.0970 and then the 1.0910 lows. Further out, we see room towards 1.0840 and then the 1.0710 area.” written in the report.

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Asian shares rose today, while the European markets finished lower. US markets were closed on holiday. Below is presented the performance of major indices:

  • Shanghai Composite climbed 1.91% finishing at 2,988.60.
  • Nikkei 225 closed at 15,775.80, up 0.60%.
  • Hang Seng rose 1.27% finishing at 21,059.20.
  • FTSE 100 closed at 6,522.26, down 0.84%.
  • CAC 40 lost 0.91% finishing at 4,234.86.
  • Euro Stoxx 50 closed at 2,862.21, which represents 0.72% decline from the previous close.

The Eurozone’s Producer Price index rose more than expected in May. According to the report from the European Union’s statistics agency, the PPI increased 0.6% in May from the previous month, representing the biggest monthly gain since February 2015.

Oil prices fell today. The WTI Crude closed at 48.67 USD/bbl, down 1.03%. The Brent Crude was trading at 50.07 USD/bbl as of 6:09 PM EDT, which is 0.81% lower than the previous close.

Saudi Arabia’s Energy Minister Khaled Al-Faleh reported today that the oil market is moving toward balance and the current prices reflect this.

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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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