EUR/USD

The EUR/USD pair during the Asian session is correcting upwards after a significant decline and is now trading at 1.1650. A sharp decline of the dollar was caused by the results of yesterday's ECB meeting. The rates were left on the previous levels: key at 0%, and deposit one – at around -0.4%. At the following press conference, ECB President Mario Draghi did not tell investors anything new about the further monetary policy. He noted that the basic inflation level is still too low and confirmed that rates will be raised no earlier than next summer. The US currency was supported by the comments of the US Treasury Secretary Steven Mnuchin, who said that the agency was closely monitoring the weakening of the yuan, and stressed the importance of the dollar's strength in the long term.

During the day, the strengthening of USD may resume, as the publication of preliminary data on US GDP for Q2 2018 is expected. The indicator can increase from 2.0% to 4.1%, demonstrating the most significant growth since 2014.

GBP/USD

In the morning, the pair GBP/USD consolidated at the level of 1.3110 after a significant decline on Thursday. The weakening of the pound the day before was caused by the negative outcome of the next round of UK-EU negotiations. Following it, Michel Barnier said that the European Union is not going to delegate to the UK the authority to collect customs fees on behalf of the EU. Thus, the bulk of Theresa May's proposals was rejected, and the chances of a "divorce" without a deal increased.

AUD/USD

The AUD/USD pair during the Asian session is correcting upwards after a significant decline and is now trading at 0.7390. Yesterday, the US dollar rose against the whole market, including the Australian currency, after the negative results of the ECB meeting and the comments of Treasury Secretary Steven Mnuchin, who noted the importance of a strong US dollar.

USD/JPY

USD/JPY quotes fell to the level of 111.00 during the Asian session. The yen was supported by strong data on the consumer price index in the Tokyo region. In July, the indicator rose from 0.6% to 0.9% instead of the expected decline. The consumer price index excluding food in the metropolitan region also increased from 0.7% to 0.8%.

Gold

Quotes of gold grew in the morning and are now traded at around 1224.00. Yesterday, the price decreased significantly, reacting to the negative results of the ECB meeting.

Morning Market Review

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