EUR/USD up 0.13%. Crude stockpiles reached 522 million barrels.

EUR/USD was trading lower throughout the day hitting the daily low of 1.0945 until it rebounded at the end of European session. As of 12:00 PM EST the WTI Crude was trading at 1.1021, which is 0.13% above the previous close.

Investors’ eyes are on ECB meeting tomorrow, where the bank is expected to announce its decision on cutting the deposit rate deeper in a negative territory.

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European shares experienced moderate growth today, recovering from yesterday’s sharp drop. The performance of major indices is presented below:

  • FTSE 100 closed at 6,146.32, up 0.34%.
  • CAC 40 increased by 0.49% finishing at 4,425.65.
  • Euro Stoxx 50 was trading at 3,016.18 as of 5:50 PM GMT, which is 0.47% higher than the previous close.
  • IBEX 35 finished the session at 8,761.10, up 0.24%.

According to the U.S. Energy Information Administration report the crude stockpiles increased by 3.9 million barrels reaching 522 million barrels, meeting the expectations of analysts. On the other hand, the gasoline inventories dropped by 4.5 million barrels, higher than the estimate of 1.4 million barrels.

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“Gasoline is the star of the show today. Ongoing strength in demand has yielded a large draw to gasoline inventories despite a rebound in refinery runs,” said Matt Smith from ClipperData.

As of 11:57 AM EST the WTI Crude was trading at 37.94 USD/bbl up 3.95% and Brent Crude at 40.89 USD/bbl, which is 3.13% higher 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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