EUR/USD

The EUR/USD pair rose to 1.1740 during the Asian session. Significant support for the European currency was provided by the talks between the head of the European Commission Jean-Claude Juncker and US President Donald Trump. Following the meeting, it was announced that new duties will not be introduced yet, and the sides will continue work on reducing the existing import tariffs and abolishing other trade barriers. Also, the EU pledged to start buying American liquefied gas and soybeans in large quantities. In general, according to the assessment of the European Commission, the talks were constructive, but the problem of automobile exports was not completely solved.

During the day, the ECB will decide on the interest rate, and its head Mario Draghi will speak at a press conference with comments on the future course of the regulator. The rates are expected to remain unchanged: the key one will remain at 0%, and the deposit one will be –0.4%. The further monetary policy of the ECB can be affected by the EU-US trade dispute. The regulator intends to complete the program of redemption of bonds by the end of 2018.

GBP/USD

The pair GBP/USD rose to 1.3200, where it is now traded. The results of the negotiations between Juncker and Trump also supported GBP, but investors are already beginning to prepare for the meeting of the Bank of England, which will be held next week. The future decision on the interest rate is still unclear. Most market participants believe that the regulator can increase the rate, but the latest series of negative economic data exerted a meaningful pressure on the Bank of England.

AUD/USD

The AUD/USD pair declined at the Asian session and is now trading at 0.7435. However, the growth of the end of Wednesday, connected with the trade negotiations between Trump and Junker, was not completely corrected. As there is a lack of key economic releases, the movement of the price is of technical nature.

USD/JPY

Quotations of the pair USD/JPY during the Asian session dropped to the level of 110.70. In general, the instrument has been declining for more than a week. Investors expect new actions from the Bank of Japan, which may discuss a decision on unlimited asset purchases at the meeting next week.

Gold

Quotes of gold had ambiguous dynamics in the morning. Weakening of USD on a wide spectrum of the market after trade negotiations between Junker and Trump led the price to 1235.00, but by now the instrument has corrected to the level of 1230.00 and remains within the downtrend.

Morning Market Review

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