EUR/USD up 0.45%. US new home sales dropped 1.5%.

EUR/USD closed higher today. As of 6:00 PM EDT the currency pair was trading at 1.1272, which represents 0.45% gain from the previous close.

US shares finished slightly lower. Below is presented the performance of major indices:

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  • DJIA closed at 17,977.24, down 0.15%.
  • Nasdaq Composite decreased 0.21% finishing at 4,895.79.
  • S&P 500 closed at 2,087.79, which represents 0.18% decline from the previous close.

New US single-family home sales surprisingly dropped in March. According to the report from the Commerce Department, new home sales fell 1.5% to a seasonally adjusted annual rate of 511,000 units down from February’s revised figure of 519,000 units.


“Through some of the short-lived ups and downs in the data, it still appears that new home sales are trending higher over time,” said Daniel Silver JPMorgan.

Several banks provided their outlook on oil prices. According to the analysts at Morgan Stanley “Non-fundamental rallies can last for several months and near-term catalysts may be lacking, but a macro unwind could cause severe selling given positioning and the nature of the players in this rally.”

Barclays reported that they are not yet sure that the oil prices won’t decline in the future. “Still-elevated inventory levels, the return of some disrupted supply, further boosts to Saudi and Iranian supply, and increased non-OECD product exports all have the potential to move prices lower over the next several months, especially if broader macro sentiment shifts,” said in the report.

Oil prices declined today. The WTI Crude closed at 42.64 USD/bbl, losing 2.49%. As of 5:46 PM EDT, the Brent Crude was trading at 44.73 USD/bbl, which is 0.84% lower than 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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