EUR/USD at 1.1372. US initial jobless claims fell to 267,000.

EUR/USD traded in a range of 1.1338-1.1455 throughout the day. As of 6:00 PM EDT the currency pair was trading at 1.1372, which is 0.18% lower than the previous close.

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

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  • DJIA closed at 17,541.96, down 0.98%.
  • Nasdaq Composite lost 1.47% finishing at 4,848.37.
  • S&P 500 closed at 2,041.91, which is 1.20% lower than the previous close.

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According to the US Labor Department report released today the initial claims for state unemployment benefits fell by 9,000 to 267,000 for the week ended April 2. The analysts’ had estimated the claims to drop to 270,000.

“The persistently low level of claims should provide some reassurance that the economy is growing, even if that growth appears more sluggish that most would have hoped a few months ago” said Jim Baird from Plante Moran Financial Advisors.

Oil prices fell during North American session driven by a data released today indicating a build of 255,804 barrels at the Cushing, Oklahoma delivery hub for U.S. crude futures during the week to Tuesday.

Yesterday the EIA reported a surprise drop in US crude inventories by 4.9 million barrels in the week to April 1, compared with the analysts’ estimates of an increase of 3.2 million barrels.

The WTI Crude closed at 37.26 USD/bbl, losing 1.30%. The Brent Crude was trading at 39.68 USD/bbl as of 5:37 PM EDT, which represents a 0.40% decline from 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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