By the end of yesterday's US trading session, USD showed ambiguous dynamics against most majors: it dropped against EUR and GBP, but strengthened to JPY and AUD. Such a dynamics of USD is due to yesterday's publication of positive statistics from the US. Markit Manufacturing PMI grew up to 54.7 points in August from 54.5 a month earlier. ISM Manufacturing PMI grew up to 61.3 points in August from 58.1 a month earlier.


After the publication of positive statistics from the US, the pair EUR/USD fell to the level of 1.1523, after which it moved to growth and rose to the level of 1.1607 during the Asian session. Today, investors expect the release of the data on Markit Services PMI (10:00 GMT+2) and on retail sales (11:00 GMT+2) in the euro area. Markit Services PMI is expected to remain at 54.4 points in August. July data on retail sales promise to be controversial. YoY, the indicator can grow by 1.3% and MoM it can drop by 0.2%.


The GBP/USD pair after the test of the support level of 1.2817 corrected to the level of 1.2869. Today, investors are waiting for the publication of data on Markit Services PMI (10:30 GMT+2) in the UK. The indicator is expected to grow to 53.9 points in August from 53.5 points a month earlier. If this assumption is right, it will support the rate in the short run.


The rate of USD/JPY tested a high at 111.70 during the night trading, after which it moved to the phase of a downward correction. A certain pressure on JPY is provided by weak data on Japan's Markit Services PMI, which turned out to be worse than forecasted and amounted to 51.5 points in August against the expected 51.7 points (the previous value was 51.3 points).


Quotes of the pair AUD/USD with the support of positive data from Australia on GDP rose to the area of 0.7214, but quickly corrected to the area of yesterday's lows to around 0.7171. According to published data, Australia's GDP in Q2 2018 rose to 3.4% from 3.1% YoY in the previous quarter, which is the highest result in the last 6 years. QoQ, the growth was 0.9% in Q2 2018 with the forecast of 0.7% (the previous value was 1.0%).


Quotes of gold demonstrate lateral dynamics and are traded near the level of 1191.74.

Morning Market Review

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