EUR/USD up 0.17%. Oil prices declined 1%.

EUR/USD rose during Asian hours today. As of 3:00 AM EDT the pair was trading at 1.1393, which is 0.17% higher than the previous close.

Analysts at Scotiabank provided their outlook on EUR/USD today. “EUR/USD short-term technicals: neutral/bearish— Our technical assessment of EUR/USD remains unchanged; longer-term signals remain EUR negative following last week’s reversal from the 1.16 area. However, shorter-term signals are neutral, with spot holding steady support in the upper 1.13 area and trend signals flat. We think the technical set up favors a weaker EUR but there is little directional intent implied in price action. A break under 1.1360/70 is needed to inject a little more downside momentum in the market” written in the report.

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

  • Shanghai Composite closed at 2,837.04, up 0.16%.
  • Nikkei 225 finished slightly higher at 16,579.01.
  • Hang Seng was trading at 20,057.18 as of 3:54 PM HKT, which is 0.92% lower than the previous close.
  • ASX/S&P 200 closed at 5,372.30, up 0.55%.
  • India’s Sensex was trading at 25,539.14 as of 1:26 PM IST, which represents 0.91% decline from the previous close.

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“I’d think the markets are supported by lack of negative news flows. It’s not that we have clear reason to be positive about the global economy but there may be a bit of unwinding in excessively pessimistic bets” said Hirokazu Kabeya from Daiwa Securities.

Oil prices moderately declined during Asian session today. As of 3:18 AM EDT the WTI Crude was trading at 44.21 USD/bbl down 1.01% and Brent Crude at 45.11 USD/bbl, which is 0.90% lower than 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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