EUR/USD up 0.18%. Oil above $40.

EUR/USD continued to rose during Asian session today following a massive rally yesterday driven by Fed announcement. As of 3:00 AM EDT the pair was trading at 1.1233, which is 0.18% higher than the previous close.

US Federal Reserve kept interest rates steady at 0.25-0.5% and cut its forecast for future rate hikes to 2 from 4 this year. It also expects 2 hikes in 2017. According to Fed Chair Janet Yellen they are cautious of raising rates, stating that she was not sure whether the inflation had accelerated. US inflation increased to 2.3% in twelve months to February, which is higher than the 2% target rate from Fed.

EURO-DOLLAR.Com Top Forex Brokers
Trade EUR/USD with AVA Trade
Trade EUR/USD with eTORO
Trade EUR/USD with XM.Com


“This was far more dovish than markets had expected, resulting in sharp rallies in commodities, emerging markets and commodity-related currencies,” said Angus Nicholson from IG.

Most Asian shares rose today on Fed announcement, except Nikkei 225, which fell driven by strengthening yen. Below is mentioned the performance of major indices:

  • Shanghai Composite gained 1.2% closing at 2,904.83.
  • Nikkei 225 finished slightly lower at 16,936.38 (-0.22%).
  • Hang Seng was trading at 20,449.18 as of 3:11 PM HKT, which represents a 0.95% increase.

Oil prices slightly rose today following a jump of more than 5% yesterday. As of 2:42 AM EDT the WTI Crude was trading at 38.94 USD/bbl up 1.25% and Brent Crude at 40.53 USD/bbl, which is 0.50% above the previous close.

Yesterday Qatari Energy Minister Mohammed bin Saleh Al-Sada announced that they are willing to freeze the production level together with Russia and Saudi Arabia despite Iran’s rejection.

AVA Trade
Trade With Confidence
Award-winning innovative broker. Segregated accounts with leading international banks.+200 financial instruments for trading.
$30 No Deposit Bonus
Open an XM Zero account and trade with spreads as low as 0! Average EUR/USD spread 0.1
eToro Social Trading
Copy Successful Traders
Automatically copy leading traders in eToro community. Expert trader? get copied yourself to earn a second income!

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.

Tags: , , ,

Leave a Reply

You must be logged in to post a comment.