EUR/USD at 1.0868. US shares climbed.

EUR/USD slightly recovered during North American session today. The pair finished at 1.0868, down just 0.15%.

US shares climbed today driven mainly by banking and tech stocks. Below is mentioned the performance of major indices:

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  • DJIA was up 2.11% closing at 16,865.08.
  • S&P 500 finished at 1,978.35, which is 2.39% above the previous close.
  • Nasdaq Composite gained 2.89% closing at 4,689.60. Today was the strongest day for this index since August 2015.


The banking sector shares climbed more than 3% following the data announcement, which triggered hopes for the FED to raise the interest rates later this year. “At this moment, I judge that the balance of risks to my growth and inflation outlooks may be starting to tilt slightly to the downside” mentioned William Dudley, New York Federal Reserve President.

The Institute for Supply Management reported today that the index of national factory activity rose by 1.3% reaching 49.5 last month, which represents the highest figure since September 2015.

Oil prices were slightly higher today. The WTI Crude closed at $33.89, up 0.41%. The Brent Crude was trading at $36.63 as of 5:30 PM EST, which is 0.16% above the previous close.

Oil prices have risen more than 16% since Saudi Arabia and Russia decided to freeze the production levels. “Talk of an output freeze scared a lot of the weaker shorts. There’s been a lot of talk and no action yet, but it’s had an impact. The fundamentals of the market haven’t changed.” said John Kilduff from Again Capital LLC.

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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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