EUR/USD

The EUR/USD after a slight decline caused by negative news from Europe, moved to growth and stabilized at 1.1688 during the Asian session. Today, market participants are waiting for data on Unemployment Rate in Germany (09:55 GMT+2), as well as on Business Climate in the euro area (11:00 GMT+2). The number of unemployed in Germany could be –8K in August against –6K a month earlier. Business Climate index could drop to 1.28 points in August from 1.29 points in previous month. If the forecasts are confirmed, the instrument will come under pressure.

GBP/USD

Quotes of the pair GBP/USD demonstrate positive dynamics and rose to 1.3024. Support for GBP is provided by news regarding Brexit. Investors positively accepted yet not confirmed officially data on the possibility of moving the deadline for the deal from October to November 2018. Today, market participants are waiting for the publication of data on consumer credit and mortgage approvals in the UK for July. The decrease in the value of both indicators is predicted, which may put pressure on the instrument in the short term.

USD/JPY

JPY is down against USD, despite the generally positive information background for the Japanese currency. Today's statistics on retail sales in Japan was better than forecasts, but weaker than in the previous month. In annual terms, retail sales increased by 1.5% in July, instead of the expected 1.2% (the previous value was 1.7%). In monthly terms, the value of the indicator rose to 0.1% in July, instead of the expected –0.3% (the previous value was 1.5%). Against this background, the rate of the instrument rose to 111.66.

AUD/USD

Quotes of the pair AUD/USD demonstrate a negative trend and during the Asian session tested a minimum at 0.7278. Currently, the rate is trying to correct upwards, but the downtrend is still maintained. The pressure on the pair is exerted by Westpac's decision to raise mortgage rates by 14 basis points, which in the long term may reduce revenues and increase the costs of Australian households.

Gold

The gold rate during the Asian trading session fell to the level of 1201.17 Today, market participants are waiting for statistics from the US on personal income and spending of American citizens (14:30 GMT+2). It is expected that income will fall to 0.3% in July from 0.4% a month earlier. Spending is expected to remain unchanged at 0.4% in July.

Morning Market Review

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.

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