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

USD is under pressure from weak statistics on inflation in the US, which fell to 2.7% in August from 2.9% a month earlier. Today, investors will focus on the publication of the data on retail sales and industrial production in the US. The retail sales are expected to fall to 0.4% in August from 0.5% a month earlier, while industrial production can grow to 0.3% in August from 0.1% a month earlier.


The pair EUR/USD due to the weak statistics from the US increased to 1.1688. Yesterday, as expected, the ECB left the interest rate unchanged at 0%, where, according to the follow-up statement, it will remain until the end of the summer of 2019 or until a sustained inflation rate to the target level of 2.0% is ensured. The market ignored this news. Today, market participants will pay attention to the data on the trade balance in the euro area (11:00 GMT+2).


The GBP/USD pair strengthened to 1.1688, supported by weak inflation data in the US. The Bank of England yesterday left the interest rate unchanged at 0.75%, and the volume of asset purchases was left at the level of 435 billion pounds. This decision was expected, so it could not have a significant impact on the dynamics of the instrument's rate. Today, investors will focus on the speech of the head of the Bank of England, Mark Carney.


The yen continues declining against the US dollar, ignoring the statistics of recent days from Japan. In the course of today's Asian session, the pair's rate tested a maximum at 112.06, after which it slightly corrected downwards; however, the trend for growth is still preserved.


After the active growth of the previous days, quotes of the pair AUD/USD tested a maximum at the level of 0.7228 and corrected downward to 0.7202, near which they consolidated during the Asian session. Due to the absence of macroeconomic releases in Australia, the movement of the instrument will be influenced by news from the US and China.


The gold rate tested a maximum at 1212.43 at the end of yesterday's US session, after which it went into the phase of a downward correction and dropped to the level of 1204.80. Traders are waiting for the publication of statistics from the US on retail sales (14:30 GMT+2) and industrial production (15:15 GMT+2).

Morning Market Review

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