US dollar is trading in both directions against the majors. Yesterday's ADP report on the level of employment in the US showed a decline in the indicator to 163K in August from 217K a month earlier. Thus, today's data on Nonfarm Payrolls can be worse than expected as well. The main macroeconomic release of the week of today and the week as a whole will be the publication of a block of labor market statistics in the US. Nonfarm Payrolls, as well as the statistics on average hourly earnings and unemployment rate are due at 14:30 (GMT+2).


Quotations of the pair EUR/USD show a moderate descending dynamics due to the publication of morning statistics from Germany, which turned out to be worse than forecasts. According to published data, industrial production fell to –1.1% in July from –0.7% a month earlier. Trade balance reduced to EUR 15.8B in July from EUR 19.3B a month earlier. Due to this, the quotes of the pair dropped to 1.1611. At 11:00 (GMT+2) investors will pay attention to the statistics on the GDP of the eurozone. The indicator is expected to remain unchanged on the level of 2.2% YoY in Q2.


Quotes of the pair GBP/USD demonstrate lateral dynamics and are traded near the level of 1.1627. Today, the British economic calendar lacks significant releases, so the investors will focus on the labor market statistics from the US.


USD is falling against JPY under pressure of weak statistics from the US, published yesterday. Yesterday's ADP report on the level of employment in the US showed a decline in the indicator to 163K in August from 217K a month earlier. Markit Services PMI declined to 54.8 points in August from 55.2 a month earlier. Against this background, the exchange rate of the instrument fell to the level of 110.37, however, during the Asian session it corrected to the level of 110.64.


Quotes of the pair AUD/USD demonstrate negative dynamics and try to consolidate above the support level of 0.7141. Published in the morning, positive statistics on home loans could not support the Australian currency. According to the data, the indicator rose to 0.4% in July from –1.1% a month earlier.


Quotes of gold have ambiguous dynamics. Currently, the instrument returned to 1200.50. Investors are waiting for the publication of statistics on the labor market in the US (14:30 GMT+2).

Morning Market Review

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