EUR/USD at 1.1253. Japan’s manufacturing PMI contracted in March.

EUR/USD slightly increased during Asian session today after falling for two days in a row. As of 3:00 AM EDT the pair was trading at 1.1253, which is 0.10% higher than the previous close.

Asian shares were mixed today. Below is presented the performance of major indices:

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  • Shanghai Composite closed at 2,999.36, down 0.64%.
  • Nikkei 225 gained 1.94% finishing at 17,048.55.
  • Hang Seng was trading at 20,649.42 as of 3:03 PM HKT, which represents a 0.17% decline from the previous close.
  • Australia’s ASX/S&P stayed unchanged at 5,166.60.
  • India’s Sensex was trading at 25,217.89 down 0.27% as of 12:45 PM IST.

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The Markit/Nikkei Flash Japan Manufacturing Purchasing Managers Index (PMI) dropped to a seasonally adjusted figure of 49.1 in March. It declined below the threshold level of 50 for the first time since April 2015.

Oil prices increased during Asian session today. As of 2:37 AM EDT the WTI Crude was trading at 41.67 USD/bbl up 0.36% and Brent Crude at 41.69 USD/bbl, which is 0.36% higher than the previous close.

OPEC and non-OPEC countries will meet in Doha on April 17 to discuss the cooperative production freeze deal. Secretary General of OPEC Abdullah al-Badri reported today that Iran might join the major oil producing countries to freeze the output levels in future, stating that he expects positive results from the meeting. “They are not objecting to the meeting but they have some conditions for the production and maybe in the future they will join the group” said al-Badri.

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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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