EUR/USD at 1.1415. Chinese CPI rose 2.3%.

EUR/USD slightly increased during Asian session today. As of 03:00 AM EDT the currency pair was trading at 1.1415, which is 0.11% above the previous close.

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

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  • Shanghai Composite climbed 1.64% closing at 3,033.96.
  • Nikkei 225 finished at 15,751.13, down 0.44%.
  • Hang Seng was trading at 20,365.77 (-0.02%) as of 3:43 PM HKT.
  • S&P/ASX 200 closed slightly lower at 4,931.50.
  • India’s Sensex was trading at 24,563.85 as of 1:15 PM IST, which represents a 0.45% decline from the previous close.

Chinese data released today showed that the CPI increased lower than the estimates, while the PPI declined slower than expected.

The consumer price index (CPI) increased 2.3% year-on-year in March versus a 2.5% increase estimated by the analysts.

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“The real focus will be on food inflation. Food prices jumped 7.3 percent on-year in February, yet core CPI and non-food CPI both eased. This potentially creates a headache for China’s central bank as further monetary policy easing is clearly necessary, but out of control food price inflation could restrain their ability to ease as much as is necessary,” said Angus Nicholson from IG.

The producer price index (PPI) declined 4.3% March, which is slightly higher than the analysts’ estimates of 4.6% decline.

 

Oil prices fell during Asian session today. As of 3:24 AM EDT the WTI Crude was trading at 39.34 USD/bbl down 0.96% and Brent Crude at 41.55 USD/bbl, which is 0.93% 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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