EUR/USD rose 0.19%. Brent Crude at $49.

EUR/USD rose during Asian session today. As of 3:00 AM EDT the pair was trading at 1.1223, which is 0.19% higher than the previous close.

US dollar was strengthening for three days in a row driven by the indications that the next Fed interest rate hike will be in June.

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Barclays analysts provided their outlook on EUR/USD today. “The break below our 1.1215 initial targets signals lower. We now expect further weakness towards 1.1125 and then 1.0990” written in the report.

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Asian shares closed higher today. Below is presented the performance of major indices:

  • Shanghai Composite closed at 2,825.48, up 0.66%.
  • Nikkei 225 rose 0.54% finishing at 16,736.35.
  • Hang Seng closed at 19,852.20, which is 0.80% higher than the previous close.
  • S&P/ASX 200 increased 0.53% finishing at 5,351.30.
  • India’s Sensex was trading at 25,472.14 as of 1:40 PM IST, which represents a 0.29% increase from the previous close.

Oil prices recovered during Asian hours today. As of 3:18 AM EDT the WTI Crude was trading at 48.53 USD/bbl up 0.77% and Brent Crude at 49.09 USD/bbl, which is 0.57% higher than the previous close.

The major cause for rising oil prices are the turmoil in Nigeria, shale bankruptcies in the United States and crisis in Venezuela, which lowered the oil supplies. “The supply disruptions inflicting the oil market continue to ratchet up… As these issues linger, we expect an increasing supply risk premium will price into the market” the ANZ bank said.

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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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