EUR/USD up 0.30%. Oil prices slightly fell.

EUR/USD rose during Asian session today. As of 3:00 AM EDT the pair was trading at 1.1347, which is 0.30% higher than the previous close.

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

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  • Shanghai Composite closed at 2,878.56, down 0.35%.
  • Nikkei 225 rose 1.28% finishing at 16,169.11.
  • Hang Seng closed at 20,668.44, which is 0.77% higher than the previous close.
  • S&P/ASX 200 increased 0.33% finishing at 5,274.40.
  • India’s Sensex was trading at 26,831.18 as of 1:57 PM IST, which represents 0.13% decline from the previous close.

Investors are cautious ahead of Thursday’s British referendum and also Federal Reserve chief Janet Yellen’s two-day testimony before Congress beginning today, as she might indicate the timing of the next rate hike.

“With Yellen’s congressional testimony and the UK referendum on our doorstep, markets all around are exercising caution” said Andrew Meredith from Tyton Capital Advisors in Tokyo.

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Oil prices declined during Asian session today. As of 4:00 AM EDT the WTI Crude was trading at 49.12 USD/bbl down 0.51% and Brent Crude at 50.37 USD/bbl, which is 0.55% lower than the previous close.

“Uncertainty around the outcome of the EU referendum is likely to have resulted in a trimming of stretched long positions in the oil market. In the event that the UK votes to leave the EU, we expect global economic growth to stagnate, and that factor would have the most influential impact on oil prices over the next 4-6 quarters” written in the note from Barclays.

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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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