EUR/USD at 1.1361. Japan’s trade surplus at 755 billion yen.

EUR/USD was relatively stable during Asian session today. As of 03:00 AM EDT the currency pair was trading at 1.1361, which is just 0.05% above the previous close.

Analysts from UOB provided their bearish outlook on EUR/USD for the next several weeks.

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“There is no change to our bearish view but as highlighted previously, downward momentum is not very strong and the downside potential is likely limited to 1.1145. Stop-loss remains unchanged at 1.1395 but 1.1350 is already a strong short-term resistance. Looking further ahead, this pair has to move below the strong 1.1230 support within the next few days as a prolonged consolidation above this level would lead to a rapid loss of momentum” written in the report.

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

  • Shanghai Composite plunged 2.31% closing at 2,972.58.
  • Nikkei 225 finished at 16,906.54, up 0.19%.
  • Hang Seng lost 0.93% closing at 21,236.31.
  • S&P/ASX 200 finished the session at 5,216.00, which is 0.52% higher than the previous close.
  • India’s Sensex was trading at 25,839.67 as of 1:38 PM IST, which represents a slight increase of 0.09%.


Japan’s trade deficit in fiscal 2015 through March plunged 88.2 percent from a year earlier according to the data released today. Overseas shipments fell 6.8% from a year earlier, while imports dropped 14.9%, posting a surplus of 755 billion yen ($6.9 billion). This figure was lower than the analysts’ estimates of 834.6 billion yen.

Oil prices declined today after Kuwait workers called off the strike that lasted three days. As of 3:33 AM EDT the WTI Crude was trading at 39.92 USD/bbl down 2.82% and Brent Crude at 42.89 USD/bbl, which is 2.59% lower than 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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