EUR/USD down 0.35%. Japan Q1 GDP growth beat expectations.

EUR/USD fell today. As of 3:00 AM EDT the currency pair was trading at 1.1272, which is 0.35% lower than the previous close.

Asian shares finished lower today. Below is presented the performance of major indices:

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  • Shanghai Composite closed at 2,807.51, down 1.27%.
  • Nikkei 225 finished at 16,644.69, slightly lower than the previous close.
  • Hang Seng was trading at 19,800.10 as of 3:31 PM HKT, representing a 1.58% decline from the previous close.
  • S&P/ASX 200 lost 0.74% finishing at 5,356.20.
  • India’s Sensex was trading at 25,675.95 as of 1:02 PM IST, which is 0.38% below the previous close.

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Japan’s gross domestic product (GDP) for the first quarter increased faster than expected, according to the data from Cabinet Office. The annualized GDP rose 1.7%, compared with the analysts’ expectations of a 0.3% increase. “Taking into account the effects of the extra day from the leap year, which pushed up the quarter-on-quarter growth rate by 0.3 percentage point, growth is not as strong as the headline number shows” said Hidenobu Tokuda, senior economist at Mizuho Research Institute.

Oil prices slightly rose during the Asian session today. As of 3:09 AM EDT the WTI Crude was trading at 48.35 USD/bbl up 0.08% and Brent Crude at 49.36 USD/bbl, which is 0.16% higher than the previous close.

“With oil continuing to suffer from supply disruptions … EIA inventory data will be key to price action. Any further decline in stockpiles could see oil’s run higher continue,” ANZ bank said. The report from EIA concerning the inventory data will be released today.

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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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