Recently, the EUR/USD pair grew to 1.1689 due to mostly positive EU statistics and poor US data, but on Monday, it is in correction.

Today, investors are focused on EU and German Markit Manufacturing PMI and EU Producer Price Index and ISM Prices Paid publications are expected.


The GBP/USD pair, supported by the positive UK GDP and Mortgage Approvals data, tested the maximum at 1.3212, but today it has entered a downward correction. Market participants are waiting for British Markit Manufacturing PMI, which is expected to decrease to 54.0 points in June from 54.4 a month earlier. Confirmation of the forecast may affect the rate negatively in the short term.


The USD/JPY pair, which was growing steadily last week, is now in the downward correction due to controversial Japanese Monday’s releases. Thus, Q2 Tankan Large All Industry Capex increased to 13.6% from 2.3% in the previous quarter. Tankan Large Manufacturing Index fell to 21 points in the second quarter from 24 points in the previous period. Today, traders will pay attention to US statistics. At 15:45 (GMT+2), Markit Manufacturing PMI will be published, and at 16:00 (GMT+2), ISM Prices Paid will be released.


AUD was corrected downwards from the highs at the level of 0.7408 due to Australian Monday’s statistics. AiG Performance of Mfg Index fell to 57.4 points in June from 57.5 points a month earlier. MoM TD Securities Inflation stayed at the level of 0% in June. YoY value fell to 2.0% in June from 2.1% a month earlier. During the day, the dynamics of the rate can be influenced by US statistics.


Gold prices are declining. The absence of protracted corrections indicates the strength of the current trend. The rate stays under pressure of the strengthening dollar. The expected increase in the Fed’s interest rate facilitates the sales of gold futures in favor of the US currency.

Morning Market Review

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