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Oil and Euro on the Rise

Oil prices finished Tuesday up. In the first half of the day they lifted from $47.4 to $48.5 per barrel of Brent, then returning to $47.5. However, with stats from the API showing a fall in US oil reserves of 3.86 million barrels, the quotes for oil lifted to $48.75 by the end of the American session. On Wednesday morning, oil is trading at approximately the same level after an attempt to grow to $48.95.

The global stock markets switched to a restoral after outliving the shock Brexit referendum. Positive movements were supported by the Asian markets this morning. The Nikkei 225 rose by 1.9%. The ASX Australia lifted 1.0%. The Shanghai Composite rose by 0.5%, and the Hang Seng increased by 0.6%. Futures for the S&P500 were trading at 2032; 0.2% up on the previous trading day.

The EUR/USD spent practically all of Tuesday in a 1.1030 – 1.1100 corridor. Wednesday morning hasn’t seen a rise in the pair, just a narrowing of the range to 1.1050 – 1.1080. Today will be full of macroeconomic news from the US and Europe. The EU will release consumer confidence data, business climate and optimism in industry stats for June. The US is publishing stats on personal incomes, expenditure and consumption in May. Furthermore, the results of the bank stress tests will be released.

30 June, 07:33 (GMT+3)
Euro Risks Falling to 1.1070

Attention:

Forecasts which are made in the review constitute the personal view of the author. Commentaries made do not constitute trade recommendations or guidance for working on financial markets. Alpari bears no responsibility whatsoever for any possible losses (or other forms of damage), whether direct or indirect, which may occur in case of using material published in the review.

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