EUR/USD at 1.1239. UK unemployment dropped to its lowest level since 2005.

EUR/USD slightly rose today. As of 1:00 PM EDT the pair was trading at 1.1239, which represents 0.25% increase from the previous close.

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

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  • FTSE 100 closed at 5,966.80, up 0.73%.
  • CAC 40 rose 1.00% finishing at 4,171.58.
  • Euro Stoxx 50 was trading at 2,830.30 as of 5:50 PM GMT, which is 1.18% higher than the previous close.

According to the data from the Office of National Statistics released today, the UK unemployment rate fell to its lowest level since October 2005. The rate dropped to 5% falling 20,000 to 1.67 million. Earnings, excluding bonuses, grew by 2.3% and earnings including bonuses climbed 2% higher from year earlier.

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“More recent survey data suggest that employers’ demand for staff has cooled in more recent months amid worries about Brexit and a slowing economy, suggesting the good news should be treated with some caution.” said Chris Williamson, chief economist at analysts Markit.

Oil prices fell today. As of 1:07 PM EDT the WTI Crude was trading at 48.07 USD/bbl down 0.87% and Brent Crude at 49.09 USD/bbl, which is 1.49% lower than the previous close.

“The rise in production disruptions – which led us last month to bring forward our expected price recovery to 2Q16 – has continued, with a later restart in Canada and more attacks in Nigeria. However, we also continue to see further evidence that outside of these disruptions, the rationalization of the oil market’s surplus remains nascent at best.” said Damien Courvalin from Goldman Sachs.

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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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