EUR/USD down 0.15%. Japan’s unemployment rose to 3.3%.

EUR/USD slightly declined during Asian session today. As of 3:15 AM EDT the currency pair was trading at 1.1179, which is 0.15% below the previous close.

Asian shares were mostly lower today. Below is mentioned the performance of major indices:

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  • Shanghai Composite plunged 1.28% closing at 2,919.83.
  • Nikkei 225 finished at 17,103.53, down 0.18%.
  • Hang Seng was trading at 20,321.18 (-0.12%) as of 3:26 PM HKT.

Japan’s Ministry of Internal Affairs and Communications released a data showing that the seasonally adjusted unemployment rate rose to 3.3 percent in February, which is slightly higher than the analysts’ estimates of 3.2%.

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Household spending increased by 1.2% in February from a year earlier, beating the estimates of 1.5% decline. The increase was driven mainly by medical care, cars, dining out and mobile phones. It was also partly due to extra Leap Year day.

“This is not the kind of spending you see when wages are improving. I am worried consumption could pull back in March because the data in February were driven by temporary factors” said Daiju Aoki from UBS Securities.

Retail sales increased by 0.5% in February from a year earlier, lower than the analysts’ expectations of a 1.7%.

Oil prices are falling for five days in a row, after they reached yearly highs above $42. As of 3:08 AM EDT the WTI Crude was trading at 39 USD/bbl down 0.99% and Brent Crude at 39.86 USD/bbl, which represents a 1.02% decline from 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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