EUR/USD rose 0.14%. Shanghai Composite drooped 2.79% affected by the trade data.

EUR/USD slightly rose during Asian session today. As of 03:00 AM EDT the pair was trading at 1.1411, which is 0.14% higher than the previous close.

Asian shares closed mostly higher, except the Chinese stocks, which significantly fell affected by the trade data news. Below is presented the performance of major indices:

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  • Shanghai Composite lost 2.79% closing at 2,832.11.
  • Nikkei 225 finished at 16,216.03, up 0.68%.
  • Hang Seng closed at 20,156.81, which is 0.23% higher than the previous close.
  • S&P/ ASX 200 rose 0.54% finishing at 5,320.70.
  • India’s Sensex was trading at 25,574.18 as of 1:48 PM IST, which represents a 1.37% gain from the previous close.

Chinese shares sharply dropped today triggered by the report on trade data, according to which the exports declined 1.8% in April, and the imports fell 10.9%, representing the 18th consecutive month of decline.

“China’s trade import data in terms of dollars were worse than expected. The service economy is becoming important but domestic demand is getting worse. This is generating negative signals for China’s economy and putting pressure on A shares.” said Sam Chi Yung from South China Financial Holdings.

According to the minutes of BOJ meeting released today, the policymakers think that the economy is recovering, however some members expressed their worries about the adverse effects of negative interest rates. “Some members noted that attention should be paid to the fact that indicators of consumer sentiment had shown a somewhat sharp deterioration due to global market turbulence,” written in the minutes of the March 14-15 meeting.

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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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