EUR/USD up 0.24%. US orders for durable goods rose far less than expected.

EUR/USD closed slightly higher today. As of 6:00 PM EDT the currency pair was trading at 1.1299, which represents 0.24% increase from the previous close.

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

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  • DJIA closed at 17,990.32, up just 0.07%.
  • Nasdaq Composite declined 0.15% finishing at 4,888.28.
  • S&P 500 closed at 2,091.70, which represents a 0.19% increase from the previous close.

Orders for US manufactured goods rose way too less than estimated in March driven by slowing demand for automobiles, computers and electrical goods. According to the report from Commerce Department, orders for durable goods rose 0.8% in March after dropping 3.1% in February.

Moreover, the report from the Conference Board showed that its consumer confidence index declined 1.9 points to 94.2 in April.

“These disappointing reports will likely add to the caution at the Fed. Given the weak performance in these two key segments of the economy, we expect the rebound in growth momentum in the second quarter to be quite weak,” said Millan Mulraine from TD Securities.

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“Although this month’s flattening in core capital goods orders suggests we may have reached a bottom, the overall tone of the report suggests we are not yet seeing a reacceleration in the sector,” said Jesse Edgerton from JPMorgan.

Oil prices significantly rose today. The WTI Crude closed at 44.04 USD/bbl, up 3.28%. The Brent Crude was trading at 46.40 USD/bbl as of 5:50 PM EDT, which is 4.32% 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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