EUR/USD at 1.1139. Germany’s unemployment rate at a record low.

EUR/USD had a volatile session today. As of 1:00 PM EDT the pair was trading at 1.1139, which is just 0.03% higher than the previous close.

European shares finished lower today. Below is presented the performance of major indices:

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  • FTSE 100 closed at 6,230.79, down 0.64%.
  • CAC 40 lost 0.53% finishing at 4,505.62.
  • Euro Stoxx 50 was trading at 3,063.48 as of 5:50 PM GMT, which represents 0.86% decline from the previous close.

According to the data from the BA labor agency released today, German unemployment rate dropped to a record low of 6.1% in May, representing the lowest level since 1992. “The labor market continues to develop positively. Employment has grown strongly and demand for labor has increased significantly” said Frank-Juergen Weise, president of the labor agency.

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Unemployment rate in the euro area remained unchanged at 10.2% in April, which represents the lowest level since 2011.

Another report from Eurostat showed today that the inflation rate in the eurozone stayed in a negative territory in May. According to the report, the rate increased from -0.2% to just -0.1% in May. “The economy is expanding at a satisfactory clip, the hypothetical deflation threat has receded and none of the risks that had roiled markets early this year has materialised. At its meeting in Vienna this Thursday, the ECB Council will not need to take any major decision” said Holger Schmieding from Berenberg Bank.

Oil prices slightly increased today. As of 1:16 PM EDT the WTI Crude was trading at 49.82 USD/bbl up 0.99% and Brent Crude at 49.95 USD/bbl, which is 0.38% higher than 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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