EUR/USD at 1.1454. Japanese manufacturing activity contracted in April.

EUR/USD slightly fell during Asian session. As of 3:00 AM EDT the currency pair was trading at 1.1454, which is just 0.08% lower than the previous close.

Commerzbank analysts provided their targets on EUR/USD today. “EUR/USD is still rising but now digs into resistance which remains to be seen at the 1.1465/95 April and October peaks. This we still do not expect to be overcome. If this were to happen, though, the February 2015 high at 1.1534 would be in focus” written in the report.

EURO-DOLLAR.Com Top Forex Brokers
Trade EUR/USD with AVA Trade
Trade EUR/USD with eTORO
Trade EUR/USD with XM.Com

Asian markets closed lower today. Below is presented the performance of major indices (Chinese markets are closed on bank holiday):

  • Nikkei 225 plunged 3.11% closing at 16,147.38.
  • S&P/ASX 200 finished at 5,243.00, down 0.18%.
  • Indian Sensex was trading at 25,445.01 as of 1:49 PM IST, which represents a 0.63% decline from the previous close.

Japanese manufacturing activity contracted in April according to the data released today affected by the halt in production in the southern manufacturing hub of Kumamoto, caused by the earthquakes. The Markit/Nikkei Japan Manufacturing Purchasing Managers Index (PMI) declined to a seasonally adjusted 48.2 in April from a 49.1 reading in March.

Oil prices fell during Asian hours today. As of 3:39 AM EDT the WTI Crude was trading at 45.58 USD/bbl down 0.74% and Brent Crude at 46.86 USD/bbl, which is 1.08% lower than the previous close.

According to the chief of the International Energy Agency (IEA), the oil prices have probably hit the bottom. “In a normal economic environment, we will see the price direction is rather upwards than downwards,” said Fatih Birol.

AVA Trade
Trade With Confidence
Award-winning innovative broker. Segregated accounts with leading international banks.+200 financial instruments for trading.
$30 No Deposit Bonus
Open an XM Zero account and trade with spreads as low as 0! Average EUR/USD spread 0.1
eToro Social Trading
Copy Successful Traders
Automatically copy leading traders in eToro community. Expert trader? get copied yourself to earn a second income!

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.

Tags: , , ,

Leave a Reply

You must be logged in to post a comment.