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.

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

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.

drbhvd

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.

AVA Trade
Trade With Confidence
Award-winning innovative broker. Segregated accounts with leading international banks.+200 financial instruments for trading.
XM
$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.