EUR/USD steady at 1.1355. Brent price above $51.

EUR/USD was trading around the yesterday close throughout the day. As of 6:00 PM EDT the currency pair was trading at 1.1355, unchanged from the previous close.

US shares slightly changed today. Below is presented the performance of major indices:

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  • DJIA closed at 17,938.28, up just 0.10%.
  • Nasdaq Composite lost 0.14% finishing at 4,961.75.
  • S&P 500 closed at 2,112.13, which is 0.13% higher than the previous close.

According to the Labor Department data released today, the US productivity, which measures hourly output per worker, dropped at an annualized rate of 0.6% in the first quarter, compared with the decline of 1.7% in the fourth quarter of last year. “Despite subdued wage growth, low productivity growth means that companies still face significant labor costs for producing an extra unit of output. Fast-rising unit labor costs have been associated with weak profits for companies in recent years” said Blerina Uruci, an economist at Barclays in New York.

Oil prices are rising for a second day in a row. The WTI Crude and Brent Crude closed at 50.35 USD/bbl and 51.44 USD/bbl, up 1.41% and 1.76% respectively. “The market remains concerned about unscheduled supply interruptions with the latest coming from additional shut-ins in Nigeria. With the industry projecting a decline in total U.S. crude oil stocks in this week’s reports, the market bears are remaining on the sidelines” 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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