EUR/USD

The pair EUR/USD yesterday tested a maximum in the area of 1.1789, after which it went down and dropped to 1.1734. The instrument is under pressure by the strengthening USD. After disappointing Friday's market statistics from the US, investors are buying the USD again. Today, investors will pay attention to statistics from Germany and the EU on economic sentiment. It is predicted that the indicators may continue to decline: for Germany – from –16.1 to –18.2 points, and for the EU – from –12.6 to –13.2 points.

GBP/USD

The GBP/USD rate after the active growth of previous days, under pressure from a growing dollar, dropped to 1.3230. Today, investors are waiting for the publication of UK Industrial Production data. On a monthly basis the indicator is expected to grow to 0.5% in May from –0.8% a month earlier. On year-on-year basis, the indicator is expected to grow to 2.7% in May from 1.8% a month earlier. Confirmation of the forecast or values below expected may support the pound.

AUD/USD

The AUD/USD pair today dropped to 0.7446. The instrument is under pressure of weak macroeconomic statistics from the UK. National Australia Bank's Business Confidence index was worse than forecasted and fell to 6 points in June from 7 points a month earlier.  National Australia Bank's Business Conditions index remained unchanged at the level of 15 points in June, with the forecast of 18 points.

USD/JPY

The pair USD/JPY due to the strengthening of the dollar rose above the level of 111.00. Fundamental events today include JOLTS Job Openings (16:00 GMT+2). The indicator is expected to fall to 6.583M in May from 6.698M a month earlier. If this assumption is right, it will put pressure on the US dollar in the short run.

Gold

Quotes of gold fell to the area of 1255.86 under the pressure of a strengthening dollar. After weak Friday statistics on the labor market in the US, investors once again show interest in the US currency. The USD is also supported by some decrease in fears regarding the development of the trade conflict between the US and China.

Morning Market Review

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