EUR/USD down 0.20%. Oil is falling three days in a row.

EUR/USD slightly fell during Asian session today. As of 3:00 AM EDT the pair was trading at 1.1161, down 0.20%. The currency pair is declining for the fifth day in a row. It has dropped almost 1% since the start of the week.

UOB analysts provided their outlook on EUR/USD stating that they expect the pair to trade within a range of 1.1120-1.1375. “While further EUR strength is still expected further out, this is likely only after a period of consolidation” said in the report.

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Asian shares declined today. Below is mentioned the performance of major indices:

  • Shanghai Composite dropped 1.63% closing at 2,960.97.
  • Nikkei 225 finished at 16,892.33, down 0.64%.
  • Hang Seng was trading at 20,284.78 as of 3:19 PM HKT, which represents a 1.60% decline from the previous close.
  • Australia’s ASX/S&P lost 1.13% closing at 5,084.20.


Li Keqiang, the Premier of the State Council of the People’s Republic of China, made an announcement today.

“Domestically, China faces deep-rooted, structural problems and the economy continues to face downward pressures, especially as we try to restructure and upgrade. China is a responsible nation and there’s no possibility that our exchange range will depreciate in the long-term” said Li.

Oil prices are declining for a third day in a row. As of 2:55 AM EDT the WTI Crude was trading at 39.32 USD/bbl down 1.18% and Brent Crude at 40.16 USD/bbl, which is 0.77% below the previous close.

Yesterday the EIA report showed that the US stockpiles increased to record highs for the sixth week.

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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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