The US dollar showed ambiguous dynamics against most majors on Monday, falling against the euro, pound and the Australian dollar, but strengthening against the yen.


The EUR/USD pair grew to the level of 1.1611. Due to the absence of macroeconomic releases from eurozone and the US, the movement of the instrument's rate is of a technical nature. Market participants continue to monitor the negotiations between representatives of the United States and the European Union on the temporary cessation of trade conflicts.


The GBP/USD pair, supported by yesterday's positive data on the UK GDP, rose to 1.3061. Today, at 10:30 (GMT+2), investors are waiting for the publication of data on the labor market in the UK. Average Earnings excluding Bonus (3Mo/Yr) could grow from 2.7% to 2.8% in July, and Average Earnings including Bonus may remain unchanged at the level of 2.4%. If the data are at or above forecasts, the pair can receive support in the short term.


The Japanese yen weakens against the US dollar. Pressure on JPY is provided by statements by US President Trump about the possible introduction of new protective duties on Chinese goods worth USD 267 billion. Against this background, the pair rose to the level of 111.52.


Quotes of the pair AUD/USD demonstrate positive dynamics and rose to 0.7125. As there is a lack of key economic releases, the movement of AUD is of technical nature. In general, the growth of AUD is impeded by the development of trade confrontation between the US and the PRC.


Quotes of gold show ambiguous dynamics and are currently consolidating around the level of 1195.31.

Morning Market Review

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