The US dollar lost the positions earned during the day's trading and fell against most majors at the end of yesterday's US trading session. Pressure on USD is provided by news about Canada's refusal to sign a new NAFTA agreement. Currently, the Canadian side is not satisfied with the new treaty because of the absence of paragraphs on dispute resolution mechanisms, as well as on providing for the protection of Canadian cultural sectors from the influence of American capital. Today's macroeconomic statistics able to affect majors paired with USD includes news from the United States. August ADP Employment Change Report is due today at 14:15 (GMT+2). Initial Jobless Claims are due at 14:30 (GMT+2). ISM Services PMI data are due at 16:00 (GMT+2).


The pair EUR/USD continued growth and rose to 1.1640 during Asian trading. Today, the macroeconomic calendar of euro area lacks important releases, so the movement of the rate will depend on the news from the US.


After the spasmodic growth to 1.2981 within two hours during the American session, the pair GBP/USD corrected to 1.2908, at which it consolidated during the Asian session. Traders are waiting for the publication of today's macroeconomic statistics from the US.


Quotations of the pair USD/JPY decreased to 111.32 due to the general weakening of USD. In the afternoon, investors will pay attention to the publication of a block of macroeconomic statistics from the US.


The rate of the AUD/USD pair tested the local maximum at 0.7191 during the Asian session, after which it corrected to 0.7165. Morning statistics on the trade balance from Australia could not support AUD. Australia's trade balance fell to USD 1.551B in July from USD 1.940B a month earlier, with the forecast of a more significant reduction to USD 1.400B.


After a noticeable increase during yesterday's US session, quotes of gold went into a downward correction and dropped to the level of 1195.75.

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.

Start Trading
Follow us in social networks!
Live Chat
Leave feedback