EUR/USD at 1.1240. US existing home sales dropped 7.1%.

EUR/USD slightly declined today. As of 6:10 PM EDT the currency pair was trading at 1.1240, which is 0.25% lower than the previous close.

ScotiaBank analysts provided their outlook on EUR/USD today. “The market’s inability to test the early February high at 1.1375 suggests the broader trend in the EUR remains somewhat sideways. Levels to 1.13/14 range are still likely to attract selling interest, which has really been the pattern of trade for the EUR over the past year” written in the report.

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US shares closed higher today. The performance of major indices is presented below:

  • DJIA closed at 17,623.87, up 0.12%.
  • Nasdaq Composite increased by 0.28% finishing at 4,808.87.
  • S&P 500 closed at 2,051.60, which is just 0.10% above the previous close.

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The National Association of Realtors announced today that the existing home sales dropped 7.1% in February to a seasonally adjusted annual rate of 5.08 million. It represents the lowest level since November 2015. The median home sales price stood at $210,800 in February, which is 4.4% higher compared with the previous year.

Oil prices increased today driven by the data announcement according to which crude inventories at the Cushing dropped 570,574 barrels to 69.05 million in the week to March 18.

The WTI Crude finished the session at 39.91 USD/bbl, which is 1.19% higher than the previous close. Brent Crude was trading at 41.47 USD/bbl as of 5:45 PM EDT, which represents a 0.66% increase from the previous closing price.

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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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