EUR/USD closed lower. Chicago PMI in contraction area.

EUR/USD was down today almost hitting the February 1 lows. The currency pair finished at 1.0884, which is 0.44% below the previous close.

US markets moderately declined today. The performance of major indices is presented below:

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  • DJIA closed at 16,516.50, down 0.74%.
  • Nasdaq Composite lost 0.71% finishing at 4,557.95.
  • S&P 500 closed at 1,932.23, which is 0.81% lower than the previous close.

While Nasdaq Composite and S&P 500 finished the month with a slight loss of 1.21% and 0.41% respectively, the DJIA closed February with a positive result. It rose 0.27% this month, which represents its first monthly gain since November 2015.

The National Association of Realtors reported today that its pending home sales index fell 2.5% to 106.0 during last month, which represents the lowest figure since January 2015.

Additionally, the February Chicago PMI report released today showed a contraction in manufacturing activity in the Midwest, posting a figure of 47.6, which was below the expectations of 52.5.

“If one looks beyond the gyrations seen over the past three months then trend activity has been running a little below the 50 neutral mark, highlighting continued sluggish activity levels, with manufacturers under particular pressure,” said Phillip Uglow from MNI indicators.

Oil prices rose today. The WTI Crude closed at 33.75 USD/bbl, which is 3.59% higher than the previous close. Brent Crude was trading at 35.97 USD/bbl as of 2:29 PM EST, representing a 2.48% gain.

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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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