EUR/USD rose 0.21%. Fed kept interest rates unchanged.

EUR/USD closed slightly higher today after a volatile session. As of 6:00 PM EDT the currency pair was trading at 1.1324, which represents a 0.21% increase from the previous close.

US shares closed mixed today. Below is presented the performance of major indices:

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  • DJIA closed at 18,041.55, up 0.28%.
  • Nasdaq Composite lost 0.51% finishing at 4,863.14.
  • S&P 500 closed at 2,095.15, which represents a 0.16% increase from the previous close.

Fed kept the interest rates unchanged today after a two-day meeting. “The committee continues to closely monitor inflation indicators and global economic and financial developments,” reported the Fed.

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Investors expect that the Fed will raise the interest rates in June. “This latest statement has not laid out a strong position for a June rate hike,” said Bill Irving from Fidelity Investments.

According to the US Energy Information Administration report, the US crude inventories rose 2 million barrels last week reaching an all-time high of 540.6 million barrels. The analysts had estimated an increase of 2.4 million barrels.

“With crude inventories building and the Saudis still pumping at record levels, we feel the recent run-up has been mainly fueled by the weakness on the dollar,” said Tariq Zahir from Tyche Capital Advisors in New York.

Oil prices are rising for a second day in a row. Brent oil climbed around 75% from its January low.

The WTI Crude closed at 45.33 USD/bbl, up 2.93%. The Brent Crude was trading at 47.23 USD/bbl, which represents a3.26% increase 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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