EUR/USD at 1.1405. Weakest number of US added jobs in seven months.

EUR/USD was trading above the yesterday close most of the time today, but it sharply declined at the end of the North American session. As of 6:00 PM EDT the currency pair was trading at 1.1405, almost unchanged from the previous close.

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

EURO-DOLLAR.Com Top Forex Brokers
Trade EUR/USD with AVA Trade
Trade EUR/USD with eTORO
Trade EUR/USD with XM.Com
  • DJIA closed at 17,740.63, up 0.45%
  • Nasdaq Composite rose 0.40% finishing at 4,736.15.
  • S&P 500 closed at 2,057.14, which is 0.32% higher than the previous close.

According to the Labor Department report released today, 160,000 jobs were added in April, which is lower than the recent monthly average figure of 200,000. The analysts had estimated that 215,000 jobs would be added last month. This number is the weakest monthly result in seven months.

After the report several financial institutions lowered their forecasts for the number of Fed interest rate hikes from two to one this year.

“We now only expect one rate hike in 2016, in September, as we believe it will take longer for policymakers to accumulate sufficient evidence that economic and labor market activity is rebounding after a soft start to the year,” said Michael Gapen from Barclays.

Oil prices had a volatile session today, but sharply rose during the North American session and closed slightly higher. The WTI Crude finished at 44.66 USD/bbl, up 0.77%. The Brent Crude was trading at 45.32 USD/bbl as of 5:43 PM EDT, which represents a 0.69% increase from the previous close.

AVA Trade
Trade With Confidence
Award-winning innovative broker. Segregated accounts with leading international banks.+200 financial instruments for trading.
XM
$30 No Deposit Bonus
Open an XM Zero account and trade with spreads as low as 0! Average EUR/USD spread 0.1
eToro Social Trading
Copy Successful Traders
Automatically copy leading traders in eToro community. Expert trader? get copied yourself to earn a second income!

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.

Tags: , , ,

Leave a Reply

You must be logged in to post a comment.