EUR/USD unchanged. Eurozone unemployment fell to 10.3%.

EUR/USD was fluctuating in a range of 1.1357-1.1437 today. As of 1:00 PM EDT the currency pair was trading at 1.1393 (unchanged). Morgan Stanley analysts provided their targets for Euro. “Yellen’s dovish speech has given support to EUR, pushing EURUSD through 1.14. We expect EURUSD could trade as high as 1.16/1.17 in a weak USD environment but expect the ECB will be uncomfortable with sustained strength near these levels. Core CPI was a positive surprise this week, though this may have been driven by the timing of Easter. In general, we don’t see a catalyst for EUR weakness in the short term and expect it to range trade near these levels” written in the report.

European shares were slightly higher today. Below is presented the performance of major indices:

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  • FTSE 100 closed at 6,164.72, up 0.30%.
  • CAC 40 increased 0.53% finishing at 4,345.22.
  • Euro Stoxx 50 was trading at 2,962.28 as of 5:50 PM GMT, which represents a 0.30% increase from the previous close.

The European Union’s statistics agency reported today that the unemployment rate in Eurozone fell to 10.3% in February from 10.4% in January, which represents the lowest level since August 2011. The number of unemployed people dropped by 39,000 reaching 16.63 million.

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Unemployment rate in Germany currently stands at a record low of 6.4%, while the unemployment in Spain is above 22%.

As of 12:52 PM EDT the WTI Crude was trading at 36.14 USD/bbl down 1.77% and Brent Crude at 37.98 USD/bbl, which is 1.78% lower than the previous close.

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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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