EUR/USD up 0.22%. US inflation rose to 2.2%.

EUR/USD climbed back during North American session after hitting its daily low of 1.1067. The currency pair closed the session at 1.1132, which is 0.22% above the previous close. The rate has gradually declined since Monday and posted a 1.1% loss for the week.

US markets were almost unchanged today. Below is presented the performance of major indices:

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  • DJIA was trading slightly below the previous close during the day and closed at 16,391.99, down 0.13%.
  • Nasdaq Composite finished at 4,504.43, which is 0.38% above the previous close.
  • S&P 500 stayed flat at 1,917.78.

The US indices posted their biggest weekly gains since 2015. DJIA and S&P 500 rose 2.6% and 2.8% respectively, strongest week since November. Nasdaq Composite gained 3.9%, which represents its best week since July 2015.

The US CPI release today showed that the inflation rose to 2.2% annualized rate compared with analysts’ expectations of 2.1%. This number is above the Fed’s target of 2%. The high inflation may provide a support for Fed’s upcoming decision to raise the interest rates.

Oil prices increased on Wednesday after a deal to freeze production was reached between Russia and Saudi Arabia and later was welcomed by Iran officials. The freezing wasn’t supposed to solve the global oversupply problem, however it drove the prices higher. However prices dropped again on Thursday and continued on Friday mainly driven by the comments from Saudi Arabia’s foreign minister, according to whom Saudi Arabia had no plans to cut the output.

WTI Crude closed at $29.64, which is 3.67% below the previous close. Brent Crude was trading at $33.09 (-3.47%) as of 5:57 PM EST.


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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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