EUR/USD quotes showed ambiguous dynamics during yesterday's trading, and adjusted to the level of 1.1720 today, where they are consolidating now. Today, market participants are waiting for Mario Draghi's speech in Frankfurt at the 9th ECB Statistics Conference (09:00 GMT+2). He can comment on the current world and European economic situation and make hints of further steps of the regulator.


The rate of GBP/USD due to the yesterday's ambiguous statistics from the UK, changed insignificantly and consolidated in the area of 1.3266. The GDP level in May rose from 0.2% to 0.3%, but the data on industrial output were weak. YoY the index fell to 0.8% in May from 1.6% a month earlier. MoM, the value of the indicator was –0.4% in May against –1.0% a month earlier, while the growth to 0.5% was expected. Goods Trade Balance deficit in May was higher than forecast and amounted to 12.36 billion pounds. Today, investors are waiting for the speech of the head of the Bank of England Mark Carney (17:35 GMT+2). His comments on the current economic situation in the UK and the world may lead to growing volatility of GBP.


The AUD/USD pair today dropped to 0.7410. Published in the morning, statistics from Australia was not bad, but could not support the national currency. Home loans rose to 1.1% in May from –0.9% a month earlier. Westpac Consumer Confidence rose to 3.9% in July from 0.3% a month earlier. The pressure on the Australian currency is exacerbated by the growing trade conflict between China and the United States. At night it became known that the US is introducing new trade duties on Chinese goods worth USD 200 billion. The Chinese party, in turn, is preparing retaliatory measures, which will lead to a new round in the trade confrontation of the world's largest economies.


Quotes of USD/JPY corrected to the level of 111.00 from the lows around 110.74 due to the statistics from Japan, published this morning. Machinery Orders YoY rose by 16.5% in May from 9.6% a month earlier. In monthly terms, the indicator fell to -3.7% in May from 10.1% in the previous month, while a decrease to -5.5% was expected. Tertiary Industry Index was 0.1% in May against 1.0% a month earlier, although the decline was expected to –0.4%. Today, traders will pay attention to statistics from the US on the Producer Price index in June (14:30 GMT+2).


Quotes of gold in today's trading have receded from the highs in the area of 1256.69 and dropped to the area of 1250.00, where there is a strong level of support.

Morning Market Review

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