EUR/USD at 1.1390. Oil prices dropped more than 4%.

EUR/USD closed the day almost unchanged after a volatile trading session. As of 5:00 PM EDT the currency pair was trading at 1.1390, which is just 0.07% above the previous close.

US shares increased today. Below is presented the performance of major indices:

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  • DJIA closed at 17,792.75, up 0.61%.
  • Nasdaq Composite gained 0.92% finishing at 4,914.54.
  • S&P 500 closed at 2,072.78, which represents a 0.63% increase from the previous close.

US markets significantly increased in value this week. The DJIA, Nasdaq Composite and S&P 500 gained 1.59%, 2.95% and 1.81% respectively during this week.

The U.S. economy added 215,000 jobs in March according to the Bureau of Labor Statistics’ report today, beating the analysts’ expectations.

“The increase in the unemployment rate came because we had more people looking for work. We continue to see job growth of more than 200,000 per month. That’s far more than we need to keep up with normal growth in the labor force, so we’re reducing job market slack” said Gus Faucher from PNC Financial Services.

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Oil prices dropped more than 4% today after Saudi Deputy Crown Prince Mohammed bin Salman told Bloomberg in an interview that Saudi Arabia will freeze its oil output only if Iran and other major producers do so. This comments vanished the hopes of investors who had high expectations from the upcoming oil producers’ meeting in Doha.

The WTI Crude closed at 36.63 USD/bbl, which is 4.46% lower than the previous close. The Brent Crude was trading at 38.69 USD/bbl, representing a 4.07% decline.

 

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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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