EUR/USD flat. Oil declined more than 1%.

EUR/USD had a slight gain during morning session but later dropped to the same levels. As of 3:15 AM EDT the pair was trading at 1.1268 (unchanged). The pair has lost more than 0.6% from Thursday highs.

UOB analysts provided tech targets for major currency pairs today. According to the report, the EUR/USD will move up to the 1.1495, if it breaks the 1.1375 resistance level.

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Asian shares were mixed today. The performance of major indices is presented below:

  • Shanghai Composite jumped 2.15% closing at 3,018.80. It represents the highest close price in 2016.
  • Nikkei 225 lost 1.25% finishing at 16,724.81.
  • Hang Seng was trading at 20,679.77 (+0.04%) as of 3:32 PM HKT.
  • Australia’s ASX/S&P was slightly down today closing at 5,166.60.
  • India’s Sensex was trading at 25,095.71 up 0.57% as of 1:16 PM IST.


“Despite the current rally in risk, we are more inclined to be broadly bearish on emerging markets given the underlying weakening trend” said Frances Cheung from Societe Generale.

Oil prices are falling for the second day in a row. As of 3:03 AM EDT the WTI Crude was trading at 38.84 USD/bbl down 1.52% and Brent Crude at 40.82 USD/bbl, which is 0.92% lower than the previous close.

Oil prices made significant gains during five weeks started from mid-February, driven mainly by smaller crude stockpile builds and increasing gasoline consumption. The prices rose further triggered by the announcement of Qatari Energy Minister’s announcement according to which OPEC and non-OPEC countries would meet in Doha on April 17 to discuss the deal on cooperative production freeze.

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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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