The EUR/USD fell to 1.1680 against the background of the general strengthening of USD. Despite the aggravation of the trade confrontation between the US and China, investors are buying USD, thus expressing confidence that it will least suffer from the development of the conflict between the two largest economies of the world. Yesterday, positive macroeconomic statistics from the US provided additional support to USD. The Producer Price index YoY rose to 3.4% in June from 3.1% a month earlier. MoM, the value of the indicator was 0.3% in June against 0.5% a month earlier (with a forecast of 0.2%). Today, investors will pay attention to statistics on industrial production in the EU. The volume of industrial production in May could grow by 1.2% MoM, and by 2.1% YoY, which significantly exceeds April's growth. If this assumption is right, it will support the rate in the short run.
Quotes of GBP/USD fell to 1.3198 under the pressure of a strengthening dollar and positive statistics from the US. In general, the situation around Brexit continues to exert pressure on the pound. The UK government still cannot reach a consensus on the key aspects of the EU exit procedure. Due to the absence of releases from the UK, the pair's exchange rate movement will be affected today by statistics on inflation from the US (14:30 GMT+2). It is expected that the Consumer Price Index (YoY) may reach 2.9%, and Consumer Price Index Ex Food & Energy (YoY) will reach 2.3%.
The pair AUD/USD today corrected to the level of 0.7381, but the downtrend is still preserved. AUD is under pressure due to the deepened US-China trade war. China is Australia's leading trading partner, and any threat to the Chinese economy adversely affects the position of AUD.
Quotes of USD/JPY demonstrate a positive trend and climbed to the maximum value of the last six months at 112.37. Today the statistics on the Consumer Price Index in the US (14:30 GMT+2) will be able to influence the rate.
Gold quotes are moderately declining due to the growth of investor interest in the US currency. Currently, asset prices have found support at 1242.19.
The material published on this page is produced by the Claws&Horns Company and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC; furthermore it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research.