EUR/USD up 0.52%. US manufacturing activity rose in May.

EUR/USD rose today. As of 5:00 PM EDT the pair was trading at 1.1187, which represents a 0.52% increase from the previous close.

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

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  • DJIA closed at 17,789.67, almost unchanged from the previous close.
  • Nasdaq Composite rose 0.08% finishing at 4,952.25.
  • S&P 500 closed at 2,099.33, which is 0.11% higher than the previous close.


According to the report form the Institute for Supply Management (ISM), the US manufacturing activity reached 51.3 in May, representing the third month of consecutive increases. A reading above 50 is an indicator of an expansion in the sector. “The rise in the ISM exaggerates the underlying tone in the U.S. manufacturing sector. While the jump in supplier deliveries is a good thing from an inventory perspective, it is perhaps a signal of weaker production activity ahead” said Millan Mulraine, deputy chief economist at TD Securities in New York.

Oil prices slightly declined today. The WTI Crude closed at 48.91 USD/bbl, down 0.39%. The Brent Crude was trading at 49.72 USD/bbl, which is 0.34% lower than the previous close.

“Oil’s going up because the oil market is rebalancing. We’re seeing non-OPEC supply decline quite substantially and, add in the supply interruptions which are humungous and we’re seeing the surplus going down a million barrels a day in the second quarter already which is way earlier than most people expected” said Gary Ross from PIRA Energy Group.

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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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