EUR/USD rose 0.52%. U.S. Q1 GDP rose 1.1%.

EUR/USD gradually increased today, slightly recovering from a two-day decline. As of 6:00 PM EDT the pair was trading at 1.1079, which is 0.52% higher than the previous close.

Global shares finished higher today. Unlike Asian stocks that rose just moderately, European and US markets gained more than 2%. Below is presented the performance of major indices:

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  • FTSE 100 closed at 6,140.39, up 2.64%.
  • CAC 40 rose 2.61% finishing at 4,088.85.
  • Euro Stoxx 50 closed at 2,758.67, which is 2.27% higher than the previous close.
  • DJIA increased 1.57%, finishing at 17,409.72.
  • Nasdaq Composite closed at 4,691.87, up 2.12%.
  • S&P 500 grew 1.78% finishing at 2,036.09.

The US economy grew more than previously thought in the first quarter of the year. According to the data from the Commerce Department, the Gross Domestic Product (GDP) rose at a seasonally adjusted annual rate of 1.1%, higher than 0.8% increase estimated previously. “The good news is that with okay, but not great growth, the economy has not developed imbalances that would indicate a recession is coming soon,” said Gus Faucher, deputy chief economist at PNC.

The Conference Board reported today that its consumer confidence index increased to 98 in June from 92.4 in the previous month.

Oil prices significantly rose today, after dropping for two days in a row following the Brexit vote. The WTI Crude closed at 47.85 USD/bbl, up 3.28%. The Brent Crude was trading at 48.70 USD/bbl as of 5:49 PM EDT, which represents 3.27% increase from the previous close. “I would categorize today’s current move higher as a corrective move after the strong push lower since last Thursday. More time is needed to safely say the down move in oil is officially over.” said Dominick Chirichella, senior partner at the Energy Management Institute in New York.

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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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