EUR/USD at 1.1488. US crude inventories grew more than expected.

EUR/USD was relatively stable throughout the day, ranging from 1.1466 to 1.1528. As of 6:00 PM EDT the pair was trading at 1.1488, which is just 0.10% lower than the previous close.

US shares are down for a second day in a row. Below is presented the performance of major indices:

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  • DJIA closed at 17,651.26, down 0.56%.
  • Nasdaq Composite lost 0.79% finishing at 4,725.64.
  • S&P 500 closed at 2,051.12, which is 0.59% lower than the previous close.

The US services sector expanded in April, however it was blurred by another report according to which the number of workers hired by the private employers dropped to its lowest figure in three years.

“The earliest indications point to a solid growth rebound of the U.S. economy in the second quarter. If Friday’s payrolls report corroborates that trend, a June rate hike certainly remains an option” said Harm Bandholz from UniCredit Research.

The Institute for Supply Management reported today that its nonmanufacturing index increased 1.2% to a reading of 55.7 in April, higher than the analysts’ forecast of 54.7. A figure above 50 is a sign of expansion in the sector.

The Government data showed today a surprise build in US crude inventories. Crude stocks rose 2.8 million barrels last week, which is higher than the analysts’ estimates by nearly one million barrels.


The WTI Crude closed today at 43.78 USD/bbl, up 0.30%. Bent Crude was trading at 44.96 USD/bbl as of 5:38 PM EDT, almost unchanged 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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