EUR/USD up 0.32%. Brent Crude at $50.29.

EUR/USD rose during European session today. As of 1:00 PM EDT the currency pair was trading at 1.1285, which is 0.32% higher than the previous close.

European shares fell today following the Asian markets. Below is presented the performance of major indices:

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  • FTSE 100 closed at 6,044.97, down 1.16%.
  • CAC 40 lost 1.85% finishing at 4,227.02.
  • Euro Stoxx 50 was trading at 2,853.52 as of 5:50 PM GMT, which represents 1.98% decline from the previous close.

Bundesbank President Jens Weidmann advised ECB policy makers to wait until the full impact of recent measures emerge. ECB used different non-traditional measures to boost inflation, after it missed the target rate of 2% in last three years.

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“I’d like to stress one thing: Our definition of price stability requires that the inflation rate target is achieved in the medium term. That gives us enough time to wait for the effects of the agreed monetary policy measures on price developments” said Weidmann.

Oil prices were trading below the yesterday close throughout the day.  As of 1:04 the WTI Crude was trading at 48.82 USD/bbl down 0.51% and Brent Crude at 50.29 USD/bbl, which is 0.49% lower than the previous close.
“The most recent oil price increase was driven by bullish market sentiment. A Brexit could turn market sentiment around.” said Carsten Fritschthe from Commerzbank.

 

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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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