EUR/USD fell 0.71%. US new home sales at record high.

EUR/USD finished lower today. As of 6:00 PM EDT the currency pair was trading at 1.1141, which represents 0.71% decline from the previous close.

US shares significantly rose 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 17,706.05, up 1.22%.
  • Nasdaq Composite jumped 2% finishing at 4,861.06.
  • S&P 500 closed at 2,076.06, which is 1.37% higher than the previous close.

According to the report from the Commerce Department released today, the US new single-family home sales posted their biggest gain in 24 years in April. New home sales rose 16.6% to a seasonally adjusted annual rate of 619,000 units in April, representing the highest level in more than eight years.


The strong housing data can drive the Federal Reserve to raise interest rate sooner than expected. “Consumers are taking the leap and buying the biggest of big ticket items of their lives and this speaks to confidence. The Federal Reserve can raise rates at their June meeting without fear the economy is going to slow” said Chris Rupkey, chief economist at MUFG Union Bank in New York.

Oil prices were trading mostly lower throughout the day until they sharply increased during the North American session. The WTI Crude closed at 49.10 USD/bbl, up 2.12%. The Brent Crude was trading at 49.00 USD/bbl, which is 1.34% higher than the previous close.

“The increase in floating oil comes despite disruptions in the Atlantic Basin and an out-of-the-money floating storage arb, suggesting markets are not as healthy as sentiment suggests. It also highlights the speculative nature of much of the oil bounce this year” written in the note from Morgan Stanley.

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.