EUR/USD down 0.27%. Brent oil below $38.

EUR/USD sharply dropped at the end of the Asian session today. As of 4:00 AM EDT the pair was trading at 1.1361, which is 0.27% lower than the previous close.

The technical strategy team at Barclays Capital provided technical setups for several major currency pairs yesterday. They mentioned their neutral targets on EUR/USD, stating “Friday’s ‘‘doji’’ candle warns of a top. A low close today would encourage us to re-establish a more bearish view and point lower in range towards targets near 1.1290 and then the 1.1205 area.”

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Asian shares mostly dropped today, except Chinese Shanghai Composite, which reached their three-month high today. Below is mentioned the performance of major indices:

  • Shanghai Composite closed at 3,053.07, up 1.45%.
  • Nikkei 225 plunged 2.42% finishing at 15,732.82.
  • Hang Seng was trading at 20,156.89 as of 3:53 PM HKT, representing a 1.67% decline.
  • Australia’s S&P/ASX 200 dropped 1.42% closing at 4,924.40.
  • India’s Sensex was trading at 24,972.03 as of 1:25 PM IST, which is 1.68% lower than the previous close.

Oil prices continue to decline during Asian session today. The prices lost more than 6% from the start of April driven by several fundamental data releases and comments from Iran and Saudi Arabia officials, which raised skepticism concerning the deal on cooperative production freeze which was supposed to be reached in Doha on April 17 meeting.

Oil Barrels

As of 3:35 AM EDT the WTI Crude was trading at 35.39 USD/bbl down 0.87% and Brent Crude at 37.43 USD/bbl, which represents a 0.69% 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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