EUR/USD down 0.20%. Oil prices fell 1.3%.

EUR/USD fell during Asian session today. As of 03:00 AM EDT the pair was trading at 1.1196, which is 0.20% lower than the previous close. The pair has declined more than 0.6% since the start of the week.

The technical strategy team at Barclays Capital provided their outlook on EUR/USD yesterday. “We are cautiously bearish. Yesterday’s low close was on below average volume, but price action points lower in range in the short term. We are looking for a move towards targets near 1.1145 and then the 1.1055 area” written in the report.

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

  • Shanghai Composite closed at 3,009.96, up 0.35%.
  • Nikkei 225 declined by 0.28% finishing at 17,000.98.
  • Hang Seng was trading at 20,582.53 as of 3:21 PM HKT, which represents a 0.41% decline from the previous close.
  • Australia’s ASX/S&P closed at 5,142.30, losing 0.47%.
  • India’s Sensex was trading at 25,192.91 down 0.54% as of 12:53 PM IST.

Oil prices fell driven by the data announcement from American Petroleum Institute (API), according to which the US crude stockpiles increased 8.8 million barrels last week reaching 531.8 million.

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Investors have high expectations from the upcoming meeting of major oil producers, which will be held in Doha on April 17. The main focus of the meeting is the cooperative oil production freeze by both OPEC and non-OPEC producers.

As of 3:00 AM EDT the WTI Crude was trading at 40.91 USD/bbl down 1.30% and Brent Crude at 41.27 USD/bbl, which is 1.24% lower than the previous close.

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