EUR/USD up 0.44%. Brent oil above $39.

EUR/USD sharply rose at the end of the Asian session. As of 03:00 AM EDT the currency pair was trading at 1.1445, which is 0.44% higher than the previous close.

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The research team at UOB provided their outlook on EUR/USD yesterday. “There is not much to add as EUR tested the 1.1330 support before rebounding quickly. The undertone is positive but momentum is patchy at best and it is unclear at this stage whether EUR strength could surmount the major 1.1495 resistance. That said, only a clear break below 1.1325/50 would indicate that the immediate upward pressure has eased” written in the report.

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

  • Shanghai Composite lost 1.38% closing at 3,008.42.
  • Nikkei 225 finished at 15,749.84, up 0.22%.
  • Hang Seng was trading at 20,229.69 (+0.11%) as of 3:40 PM HKT.
  • Australia’s S&P/ASX 200 increased 0.37% closing at 4,964.10.
  • India’s Sensex was trading at 24,775.21 as of 1:11 PM IST, which represents a 0.50% decline from the previous close.

Oil prices slightly increased during Asian session after a massive rally yesterday. As of 3:15 AM EDT the WTI Crude was trading at 37.87 USD/bbl up 0.32% and Brent Crude at 39.86 USD/bbl, just 0.05% above the previous close.

The prices jumped more than 5% yesterday after the data from Energy Information Administration revealed that the US crude oil stockpiles unexpectedly declined by 4.9 million barrels in the week ended April 1.

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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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