EUR/USD up 0.27%. Oil prices slightly fell.

EUR/USD was trading around Friday’s close price most of the time today until it sharply rose at the end of the European session. As of 01:00 PM EDT the pair was trading at 1.1195, which is 0.27% higher than the previous close.

Analysts from Morgan Stanley provided their weekly outlook on US dollar yesterday. “We think the current USD fall will run out of steam. The catalysts for a turnaround back to a USD rally will be either strong US data confirming the need for tighter monetary policy in the US this year or other central banks globally fighting back against their own currency strength. In the short term FX rates can be influenced by central bank action but longer term it’s about the growth outlook relative to the rest of the world” written in the report.

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European markets are closed on holiday since Friday. Major indices closed the previous week with the following performance:

  • FTSE 100 lost 1.5%.
  • CAC 40 plunged more than 3% closing the week at 4,329.68.
  • Euro Stoxx 50 finished at 2,986.73, falling 2.39%.

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Oil prices declined during European session. As of 12:58 PM EDT the WTI Crude was trading at 39.23 USD/bbl, which is 0.58% lower than the previous close. It ranged from $38.86 to $40.14 today. The Brent was trading at 40.07 USD/bbl down 0.91% after hitting daily high of $41.

Investors are waiting for the upcoming meeting of oil producing countries in Doha, where a deal on output freeze will be discussed.

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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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