Wall Street traded higher yesterday helped by higher Oil prices. The Dow Jones rose by 0.82% and the NASDAQ added 0.70% to its value. The US dollar traded steady at 2-month high against the major currencies as expectations for a June rate hike in the US continued to boost demand for the greenback. Today, the US Unemployment Claims is expected at 275K vs. 278K previously. Gold fell, to close at $1,224 an ounce. Crude Oil rose, to close at $49.77 a barrel.
The euro traded a little higher versus the dollar as investors await more economic data at the week’s end. According to the 4-hour chart, the EUR/USD pair is trading below the 20-day Moving Average with the Momentum Indicator below 0. Maintaining these conditions could take the EUR/USD pair towards 1.1080 and crossing above the 20-day Moving Average may lead the pair towards 1.1350. The pound rose against the dollar, to close at 1.4699. According to the 4-hour chart, the GBP/USD pair is trading close to the upper band of the Bollinger Bands indicator. Remaining here could lead the GBP/USD pair towards 1.50. However, falling towards the lower band may take the pair towards 1.44.