EUR/USD down 0.26%. Asian shares mixed.

EUR/USD fell at the end of the Asian session today. As of 3:00 AM EST the pair was trading at 1.0971, which is 0.26% lower than the previous close.

UOB analysts provided an outlook on EUR/USD today. According to the report, UOB will turn to bullish if the rate closes above 1.1005/10 today.

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Asian shares were mixed today, after hitting their two-month high during morning trading hours. The performance of major indices is presented below:

  • Shanghai Composite rose by 0.81% closing at 2,897.34.
  • Nikkei 225 finished at 16,911.32, down 0.61%.
  • Hang Seng closed the session at 20,159.72, which is just 0.08% lower than the previous close.

China’s Finance Minister Lou Jiwei announced today that the growth in country’s fiscal income would slow in future, noting that China still had room to increase its government debt.

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“Our fiscal income is in a severe situation. We need to expand the fiscal deficit, but it is hard to say how much room is appropriate. We have some room, but cannot increase too much. China’s fiscal income accounts for around 30 percent of GDP (which is relatively low compared with other countries and far lower than that in developed countries)” said Lou.

Oil prices were slightly up today, continuing the last week’s rally. As of 3:15 AM EST the WTI Crude was trading at 36.49 USD/bbl up 1.59% and Brent Crude at 39.26 USD/bbl, which is 1.39% above 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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