EUR/USD unchanged. Asian shares climbed this week.

EUR/USD was relatively stable during Asian session today. As of 3:11 AM EST the pair was trading at 1.0949, unchanged from previous close.

Jane Foley from Rabobank provided an outlook on EUR/USD, mentioning that the pair could drop to 1.05 levels this year. “Despite a clear slowing in the US manufacturing sector, the services sector remains robust. Also both CPI and PCE inflation data have been ticking higher and wage inflation appears to have regained an upward trend. Based on our view that the Fed is still likely to hike rates later this year we expect that the USD will be able to claw back some ground vs. the EUR” said Foley.

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Asian shares closed moderately higher today. The performance of major indices is presented below:

  • Shanghai Composite closed at 2,874.15, up 0.50%.
  • Nikkei 225 increased by 0.32% finishing at 17,014.78.
  • Hang Seng closed at 20,176.70, which is 1.18% above the previous close.

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Asian indices close this week with a significant gain. Shanghai Composite, Nikkei 225 and Hang Seng climbed 3.86%, 5.1% and 4.2% respectively during this week.

Haruhiko Kuroda, the BOJ Governor announced today that he was not considering reducing the central bank’s benchmark rate further at this time, noting that Japan’s banks had sufficient capital and extremely good profits.

Oil prices slightly gained during Asian session. As of 2:50 AM EST the WTI Crude was trading at 34.77$ up 0.58% and Brent Crude at 37.22$, which represents a 0.40% increase 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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