EUR/USD at 1.1416. Asian indices closed the week with loss.

EUR/USD slightly rose during Asian hours today. As of 3:00 AM EDT the pair was trading at 1.1416, which is 11% higher than the previous close.

Pernille Henneberg from Danske Bank provided her medium-term outlook on EUR/USD.

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“EUR/USD continues slowly lower. EUR/USD is back around 1.14 after touching above 1.16 earlier this week. In our view, the Fed is too dovish priced, while the ECB is fairly priced. This should cap EUR strength in the coming months as positioning is now much cleaner compared to the very stretched short EUR/USD positioning in the beginning of the year” written in the report.

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

  • Shanghai Composite closed at 2,913.25, down 2.82%.
  • Nikkei 225 declined 0.25% finishing at 16,106.72.
  • Hang Seng closed at 20,109.87, which is 1.66% lower than the previous close.

Asian indices closed this week with a significant decline in value, particularly Shanghai Composite, Nikkei 225, and Hang Seng lost 0.81%, 3.41% and 4.62% respectively.

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“Recent global economic data and some corporate earnings from major Western firms have been lacklustre, leading to risk-off trading in markets” said Masahiro Ichikawa from Sumitomo Mitsui Asset Management.

Oil prices slightly declined today. As of 3:42 AM EDT the WTI Crude was trading at 44.09 USD/bbl down 0.52% and Brent Crude at 44.86 USD/bbl, which is 0.33% lower than the previous close.

“Investors continued to liquidate (commodity) positions as the U.S. dollar strengthened,” reported ANZ.

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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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