EUR/USD at 1.1410. Oil prices slightly rose.

EUR/USD was trading below the yesterday close throughout the Asian session. As of 3:00 AM EDT the pair was trading at 1.1410, which is 0.18% lower than the previous close.

Analysts at UOB provided their outlook on EUR/USD yesterday. “We just shifted to a neutral stance last Friday and there is no change to the view. The current movement is viewed as corrective pull-back which has scope to extend lower to 1.1300 but at this stage, a sustained move below this level is not expected. Overall, this pair is expected to remain under pressure unless it can reclaim 1.1495” written in the report.

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

  • Shanghai Composite closed at 2,835.86, down just 0.04%.
  • Nikkei 225 rose 0.41% finishing at 16,646.34.
  • Hang Seng was trading at 19,909.27 as of 3:46 PM HKT, which is 0.73% lower than the previous close.
  • S&P/ASX 200 closed at 5,359.30, down 0.24%.
  • India’s Sensex was trading at 25,698.48 as of 1:19 PM IST, which represents a 0.40% increase from the previous close.

Oil prices closed the Asian session with a slight increase. As of 3:20 AM EDT the WTI Crude was trading at 46.34 USD/bbl up 0.24% and Brent Crude at 47.66 USD/bbl, which is 0.13% higher than the previous close.

“Based on the decrease in production that has been shown in the last three weeks, I assume fundamentally the price represents the fall of production” said Kuwait’s acting oil minister Anas al-Saleh.

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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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