EUR/USD up 0.26%. Brent oil rose above $49.

EUR/USD had a volatile session today. As of 5:50 PM EDT the pair was trading at 1.1095, which is 0.26% higher than the previous close.

Asian and European shares dropped today, while the US markets finished slightly higher. Below is presented the performance of major indices:

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  • Nikkei 225 closed at 15,378.99, down 1.85%.
  • Hang Seng lost 1.23% finishing at 20,495.29.
  • FTSE 100 closed at 6,463.59, which is 1.25% lower than the previous close.
  • Euro Stoxx 50 fell 1.83% finishing at 2,761.37.
  • DJIA rose 0.44% closing at 17,918.62.
  • S&P 500 closed at 2,099.73, which represents 0.54% increase from the previous close.

According to the minutes from the Fed’s June policy meeting released today, the policymakers decided to keep the rate unchanged until they see the consequences of the UK vote. The meeting took place before the June 23 referendum. “Members generally agreed that, before assessing whether another step in removing monetary accommodation was warranted, it was prudent to wait for additional data on the consequences of the U.K. vote,” written in the minutes.

The Fed indicated two rate hikes this year before the Brexit vote, but it will likely keep the rates unchanged given the possible consequences of the vote.

“We would need to see a few months of good data … to support a hike,” said Brian Jacobsen, chief portfolio strategist at Wells Fargo Funds Management.

Oil prices rose today. The WTI Crude closed at 47.43USD/bbl, up 1.78%. The Brent Crude was trading at 49.27 USD/bbl as of 5:42 PM EDT, which represents 2.73% increase from 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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