EUR/USD up 0.20%. Oil prices increase for four days in a row.

EUR/USD slightly rose during Asian session today. As of 3:00 AM EDT the pair was trading at 1.1271, which is 0.20% 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 2,905.55, up 0.94%.
  • Nikkei 225 fell 0.64% finishing at 16,065.72.
  • Hang Seng closed at 20,795.12, up 0.61%.
  • S&P/ASX 200 declined 0.07% finishing at 5,270.90.
  • India’s Sensex was trading at 26,620.10 as of 1:45 PM IST, which represents 0.72% decline from the previous close.

“The only theme this week is Brexit, and there’s nothing else. (However) the impact of Brexit on Asia is going to be quite limited…compared to what you see in the Europe and US” said Tareck Horchani, a senior sales trader at Saxo Capital Markets in Singapore.

Oil prices rose today, which represents the fourth consecutive day of increases. As of 3:56 AM EDT the WTI Crude was trading at 50.37 USD/bbl up 1.04% and Brent Crude at 51.04 USD/bbl, which is 0.83% higher than the previous close.

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“Strengthening in the dollar and weakness in other currencies would … be directionally short-term bearish for crude oil (in the event of Brexit). Global demand growth is quite robust, driven by the U.S., China, India and other emerging markets. On the supply side, declining U.S. crude production is expected to underpin a trend of lower non-OPEC production.” wrote Societe Generale in a research note.

 

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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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