EUR/USD down 0.11%. US jobless claims unexpectedly dropped last week.

EUR/USD closed slightly lower today despite a sharp jump during the European hours, which was affected by ECB interest rate decision. As of 6:00 PM EDT the currency pair was trading at 1.1287, which represents 0.11% decline from the previous close.

US shares closed mostly lower today. The performance of major indices is presented below:

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 17,982.52, down 0.63%.
  • Nasdaq Composite slightly declined 0.05% finishing at 4,945.89.
  • S&P 500 closed at 2,091.48, which is 0.52% decline from the previous close.

The number of Americans filing for unemployment benefits surprisingly dropped last week according to the report by the Labor Department released today.

Initial claims fell 6,000 to a seasonally adjusted 247,000 for the week ended April 16, which represents the lowest level since 1973. The analysts had estimated the claims to increase to 263,000.


“The labor market continues to improve. If the apparent slowing in GDP in the first quarter was truly a sudden change in trend, we should have seen something happen in claims by now” said Jim O’Sullivan from High Frequency Economics.

Oil prices declined at the end of the day. The WTI Crude closed at 43.18 USD/bbl, down 2.26%. The Brent Crude was trading at 44.73 USD/bbl as of 5:36 PM EDT, which represents a 2.34% decline from the previous close.

“The biggest negative factor was the ECB, with Draghi talking about doing whatever it takes (to keep the European economy stimulated). That added euro weakness, dollar strength and ultimately all commodities took a hit” said Frank D. Cholly from brokerage R.J. O’Brien.

AVA Trade
Trade With Confidence
Award-winning innovative broker. Segregated accounts with leading international banks.+200 financial instruments for trading.
$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.