EUR/USD up 0.13%. German unemployment at 14 year low

EUR/USD was trading slightly above the yesterday close throughout the day. As of 1:00 PM EDT the currency pair was trading at 1.1339, which is 0.13% higher than the previous close.

Barclays analysts provided their outlook on EUR/USD yesterday. “We are overall bearish and would prefer to fade gains against the 1.1465 range highs. A move below 1.1210 would confirm our bearish view towards targets near the 1.1145 range lows and then the 1.1065 area. Initial resistance in near 1.1335, the 21-dma.” written in the report.

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European shares declined today following the Asian markets, but managed to recover at the end of the session. The major cause was the surprise decision from BOJ to keep the interest rates unchanged. Below is presented the performance of major indices:

  • FTSE 100 closed at 6,322.40, up just 0.04%.
  • CAC 40 stayed almost unchanged at 4,557.36.
  • Euro Stoxx 50 was trading at 3,125.43 as of 5:50 PM EDT, which represents a 0.16% decline from the previous close.

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German jobless claims surprisingly dropped in April according to the report from the BA labor agency released today. The jobless claims in April fell by 16,000 from the previous month, which represents the seventh consecutive decline. Unemployment rate stayed unchanged at 6.2%, the lowest level in 14 years.

According to the report from the Federal Statistics Office, the German HICP declined by 0.1%in April, compared to the analysts’ estimate of zero.

Oil prices moderately rose today. As of 12:58 PM EDT the WTI Crude was trading at 45.79 USD/bbl up 1.01% and Brent Crude at 47.81 USD/bbl,which is 1.34% higher 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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