EUR/USD up 0.14%. Japan’s GDP grew 1.9% in Q1.

EUR/USD slightly rose during the Asian session today. As of 3:00 AM EDT the pair was trading at 1.1371, which is 0.14% higher than the previous close.

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

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  • Shanghai Composite closed at 2,927.16, down 0.30%.
  • Nikkei 225 rose 0.93% finishing at 16,830.92.
  • Hang Seng closed at 21,297.88, which is 0.14% lower than the previous close.
  • S&P/ASX 200 finished at 5,370.00, almost unchanged.
  • India’s Sensex was trading at 27,057.95 as of 1:57 PM IST, which represents 0.18% increase from the previous close.

According to the report from Cabinet Office released today, Japan’s gross domestic product (GDP) for the first quarter increased at an annualized pace of 1.9% from the previous quarter, meeting the analysts’ expectations. “We expect growth to slow in the current quarter. The government should focus on steps to help low-income earners, but consumption may not rise much if consumer sentiment worsens.” said Shuji Tonouchi, senior fixed income strategist at Mitsubishi UFJ Morgan Stanley Securities.

Another report from Asia showed that China’s trade balance surplus came at $49.98 billion in May, slightly lower than the forecast of $50 billion. Imports and Exports dropped by 0.4% and 4.1% respectively.

Oil prices rose during the Asian hours today. As of 4:20 AM EDT the WTI Crude was trading at 50.54 USD/bbl up 0.36% and Brent Crude at 51.69 USD/bbl, which is 0.49% higher than the previous close.

“The fifty handle to prices came quickly and for now looks here to stay,” said Stuart Ive from OM Financial.

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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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