EUR/USD up 0.19%. Oil prices continue to rise.

EUR/USD slightly increased during Asian session today. As of 3:00 AM EDT the pair was trading at 1.1334, which is 0.19% higher than the previous close.

Scotiabank analysts anticipate a growing pressure on Euro. “The 1.14/1.15 range has been the top for the EUR over the past year and Friday’s close was a poor one for the EUR on the week, suggesting an important top/reversal had formed on the longer-term charts. We see strong resistance at 1.1450/60 now. Weakness below 1.1245/50 this week should add to pressure on the EUR.” written in the report.

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

  • Shanghai Composite closed at 3,042.82, up 0.30%.
  • Nikkei 225 jumped 3.68% finishing at 16,874.44.
  • Hang Seng was trading at 21,365.23 as of 3:24 PM HKT, which is 0.96% higher than the previous close.
  • S&P/ASX 200 finished at 5,188.80, which represents a 1.01% increase from the previous close.

Oil prices continue to rise during Asian session today. As of 3:00 AM EDT the WTI Crude was trading at 40.23 USD/bbl up 1.13% and Brent Crude at 43.45 USD/bbl, which is 1.26% higher than the previous close.

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Oil prices sharply dropped yesterday after a failed Doha meeting, but recovered quickly driven by strike in Kuwait, which temporary cut the country’s oil output. It dropped to 1.1 million bpd on Sunday, from 2.8 million bpd in March as thousands of workers went on strike.

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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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