EUR/USD rose 0.32%. US initial jobless claims dropped to 268,000.

EUR/USD increased for the second day in a row. As of 6:00 PM EDT the pair was trading at 1.1194, which is 0.32% higher than the previous close.

US shares finished around the yesterday close. Below is presented the performance of major indices:

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  • DJIA closed at 17,828.29, down 0.13%.
  • Nasdaq Composite rose 0.14% finishing at 4,901.77.
  • S&P 500 closed at 2,090.10, which is just 0.02% lower than the previous close.

According to the data released form the US Labor Department today, the number of Americans filing for unemployment benefits declined more than expected last week. Claims fell to 268,000 from the last week’s 278,000. Claims have been below the threshold level of 300,000 for 64 weeks, which is an indicator of a strong job market.

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The Commerce Department reported today that the orders for non-defense capital goods excluding aircraft dropped 0.8% in April. “Overall domestic growth momentum appears to be on the mend. Nevertheless, the weak performance in business capital investment activity suggests that this segment remains a source of drag for the U.S. economic recovery,” said Millan Mulraine from TD Securities.

Oil prices were trading above the yesterday close throughout the day, until they dropped during the North American hours. The WTI Crude closed at 49.48 USD/bbl, down 0.16%. The Brent Crude was trading at 49.46 USD/bbl, which represents 0.56% decline from the previous close.

“We are viewing current risk/reward ratios as unfavorable toward new longs at current levels” said Jim Ritterbusch from Ritterbusch & Associates, stating a target of $47.50 for Brent oil in a near term.

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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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