EUR/USD at 1.1191. Japan CPI fell 0.3%.

EUR/USD was relatively stable during the Asian session today. As of 3:00 AM EDT the pair was trading at 1.1191, almost unchanged from the previous close.

Asian shares finished mostly higher today. Below is presented the performance of major indices:

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  • Shanghai Composite closed at 2,821.05, down just 0.05%.
  • Nikkei 225 rose 0.37% finishing at 16,834.84.
  • Hang Seng closed at 20,576.77, up 0.88%.
  • S&P/ASX 200 increased 0.33% finishing at 5,405.90.
  • India’s Sensex was trading at 26,614.17 as of 1:49 PM IST, which is 0.94% higher than the previous close.

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According to the report from the statistics bureau, Japan’s consumer prices fell for a second month in a row. Consumer prices excluding fresh food dropped 0.3% from a year earlier, compared with the analysts’ forecasts of 0.4% decline. “Japan’s inflation is going to remain weak. If you look at economic and price fundamentals, the BOJ has to ease further soon” said Takashi Shiono from Credit Suisse.

Oil prices continue to decline today. As of 3:37 AM EDT the WTI Crude was trading at 49.15 USD/bbl down 0.67% and Brent Crude at 49.21 USD/bbl, which is 0.77% lower than the previous close. “Brent crude’s failure to hold above the $50 level, and weak capital goods orders from the U.S. appear to have halted U.S. markets and the dollar overnight” said Angus Nicholson from IG.

“In the next few months oil prices could stay in the high $40-$50 mark. We are entering the U.S. driving period so seasonal demand might provide underlying support to oil prices” said Yvanne Lai, senior analyst at National Australia Bank.

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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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