EUR/USD

Quotes of EUR/USD decline moderately and try to gain a foothold below the strong support level of 1.1655. In addition to the general strengthening of USD, pressure on the pair is exerted by the report on the June meeting of the ECB, where the intention of the regulator to leave interest rates unchanged at least until the summer of 2019 was confirmed. Also, members of the ECB have expressed concern over the deepening of world trade conflicts, which can lead to excessive growth of commodity prices and acceleration of inflation, and may cause a global drop in demand.

GBP/USD

Due to the absence of important releases from the UK and generally positive statistics from the US, published yesterday, the GBP/USD rate dropped to 1.3168. YoY, the Consumer Price Index grew from 2.8% to 2.9% as expected. Consumer Price Index Ex Food & Energy MoM remained at 0.2%, and YoY it increased from 2.2% to 2.3%. Only the Consumer Price Index fell from 0.2% to 0.1% MoM. Today, investors are waiting for the speech of the Bank of England Deputy Chairman Jon Cunliffe, who can comment on the state of the British economy and outline further actions of the British regulator.

AUD/USD

The rate of AUD/USD rose to the level of 0.7415. Against the background of the absence of macroeconomic releases from Australia, the growth of the instrument's rate is of a technical nature.

USD/JPY

Quotes of USD/JPY rose to 112.69 with support from the news about the possible start of new negotiations between the PRC and the US in order to find a compromise on contentious trade issues. Published on Friday morning, weak statistics from Japan exerts additional pressure on the yen. Industrial production YoY remained unchanged at 4.2% in May, while the growth was projected to 6.0%. Capacity Utilization decreased to –2.1% in May from 1.8% in the previous month.

Gold

Gold quotes have changed insignificantly and are moving within the narrow range with borders at 1241.10–1248.33.

Morning Market Review

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