EUR/USD at 1.0817. Asian shares are recovering.

US dollar weakened today during Asian session. As of 3:00 AM EST the pair EUR/USD was trading at 1.0817, up 0.17% from the previous close. It is steadily moving towards hourly 50-SMA of 1.0841.

After the last week’s rally in both oil and stock prices, Asian shares continue to rise. All major indices gained in value today, extending a recovery process started on Friday.  However, the shares are still trading approximately 17% below the 2015 year-end value.

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The performance of main Asian indices is presented below:

  • Shanghai Composite gained 0.75%.
  • Nikkei 225 rose 0.9%, finishing the session at 17,110.91
  • Hang Seng Index closed at 19,340.14, which represents a 1.36% increase from its previous close.
  • Australia’s ASX/S&P 200 moved 90.60 points or 1.84%.
  • India’s Sensex was trading at 24,492.18 (+0.23%) as of 1:36 PM IST.

Last week oil prices showed a massive gain. They increased by 10% on Friday, which is one of the biggest daily gains ever. Today oil prices continued to recover. WTI crude moderately rose up to 32.74$, but declined to 32.06$ minutes after Asian session close. Similar to WTI, Brent Crude also traded above the Friday’s close most of the time today, however it sharply declined to 31.67$ shortly after Asian session end. As of 02:55 ET the WTI and Brent were down 0.40% and 0.99% respectively.

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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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