EUR/USD at 1.1261. Japan’s industrial production rose 0.5% in April.

EUR/USD fell during Asian session today. As of 3:00 AM EDT the pair was trading at 1.1261, which is 0.24% lower than the previous close.

UOB analysts provided their outlook on EUR/USD yesterday, suggesting a target of 1.12. “The anticipated extension lower in EUR was more rapid than expected and the undertone is clearly negative from here. That said, only a daily closing below 1.1200 would indicate that the current neutral outlook has shifted to bearish (for an immediate target of 1.1100). Overall, the downward pressure would continue to increase unless this pair can reclaim 1.1330 within these few days” written in the report.

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

  • Shanghai Composite closed at 2,842.19, up 0.32%.
  • Nikkei 225 lost 1.00% finishing at 15.859.00.
  • Hang Seng closed at 20,387.53, which is 0.61% lower than the previous close.
  • S&P/ASX 200 dropped 2.06% finishing at 5,203.30.
  • India’s Sensex was trading at 26,351.64 as of 1:43 PM IST, which represents 0.17% decline from the previous close.

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According to the data released today, Japan’s industrial production increased by 0.5% in April, higher than previously reported 0.3%. Year-on-year it dropped 3.3%, compared to originally stated 3.5% decline.

Oil prices continue to fall. Oil prices have lost more than 6% from June 9 highs. As of 3:55 AM EDT the WTI Crude was trading at 48.16 USD/bbl down 1.47% and Brent Crude at 49.69 USD/bbl, which represents 1.31% decline from the previous close.

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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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