The pair EUR/USD fell during the Friday European session to 1.1600 and continued to consolidate in this area during the Asian session on Monday. The euro is under pressure from weak Friday statistics on inflation in the euro area, which fell to 2.0% in August from 2.1% a month earlier. On Monday, EU Markit Manufacturing PMI will be released (10:00 GMT+2). The indicator is expected to remain unchanged at the level of 54.6 points in August.


Quotations of the pair GBP/USD fell to the level of 1.2970 due to the absence of macroeconomic releases from the UK. Today, investors expect the publication of Markit Manufacturing PMI in the UK. The indicator is expected to fall to 53.8 points in August from 54.0 points a month earlier. If the forecast proves right, the pair will fall under pressure.


JPY is the only currency that has strengthened against USD during the Asian session. Published today in Japan, Nikkei Manufacturing PMI remained unchanged at 52.5 points. Against this background, the pair dropped to the level of 110.90.


The rate of AUD/USD during the Asian session fell to 0.7164, which is the minimum level since December 2016, after which the pair slightly corrected to the level of 0.7196. Despite the observed correction, the downward trend remains. Pressure on AUD is provided by news about a possible exacerbation of the trade confrontation between the PRC and the US. Trump's administration could introduce additional duties on Chinese goods worth USD 200 billion this week.


Quotes of gold during the Asian session could not consolidate below the support level of 1195.31 and went into the phase of the upward correction. Due to the absence of macroeconomic releases in the US calendar, investors will follow the news regarding the development of the trade confrontation between the US and the PRC.

Morning Market Review

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