EUR/USD up 0.21%. Oil prices continue to increase.

EUR/USD continues to rise during Asian session today. As of 03:00 AM EDT the currency pair was trading at 1.1323, which represents a 0.21% increase from the previous close.

Asian shares slightly declined today. Below is presented the performance of major indices:

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  • Shanghai Composite closed at 2,953.67, down 0.37%.
  • Nikkei 225 lost 0.36% finishing at 17,290.49.
  • Hang Seng was trading at 21,323.86 as of 3:43 PM HKT, which represents a 0.39% decline from the previous close.
  • S&P/ASX 200 closed at 5,187.70, which is 0.63% lower than the previous close.

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The shares trade lower mainly because the investors are cautious on US and Japanese central bank policy decisions. US Fed is expected to keep interest rates unchanged today.

“The main event tonight is the FOMC decision and the question of how much they acknowledge the clearly better global environment. With volatility back to more normal levels, equities again pushing their highs, Draghi indicating they need time to assess existing policy, and Chinese and Asian data showing some signs of picking up, the door is open for the Fed to again signal gradual normalization.” said Sam Tuck from ANZ.

Oil prices rose today. As of 3:00 AM EDT the WTI Crude was trading at 44.56 USD/bbl up 1.18% and Brent Crude at 46.29 USD/bbl, which is 1.20% higher than the previous close.

“A weaker U.S. dollar and expectations of stronger fundamentals drove crude oil prices higher. Sentiment continues to improve, with major producer BP suggesting the markets may rebalance by the end of the year,” according to ANZ bank.

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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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