During the Asian trading session, USD is declining against the euro and the pound, and is trading in both directions paired with the yen and AUD. Macroeconomic events that can affect the dollar rate today include the ADP Employment Change in the private sector (14:15 GMT+2), as well as Markit Services PMI (15:45 GMT+2). It is expected that the ADP indicator will show an increase in the value to 185K in September against 163K a month earlier, and Markit Services PMI will rise to 53.6 points in September from 52.6 points a month earlier. If the forecast proves correct, it can support the instrument.

EUR/USD

The EUR/USD pair rose to 1.1586 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. Services PMI is expected to remain unchanged, and retail sales may grow in annual terms to 1.7% in August from 1.1% a month earlier. If the forecast proves correct, it can support the instrument.

GBP/USD

The quotations of the GBP/USD pair consolidated around 1.3000. Traders are waiting for today's publication of Markit Services PMI in the UK for September. The indicator is expected to fall to 54.0 points in September from 54.3 points a month earlier. If the forecast proves right, the pound will fall under pressure.

USD/JPY

The USD/JPY pair showed ambiguous dynamics. During the Asian trading session, the rate rose to 113.77. The yen today is under pressure from weak data from Japan on Markit Services PMI which turned out to be worse than expected and dropped to 50.7 points in September from 51.5 points a month earlier.

AUD/USD

During the Asian trading session, the quotes of AUD/USD went down to 0.7177. The pressure on AUD is caused by negative statistics from Australia on building permits. The number of building permits issued in annual terms decreased to –13.6% in July from –5.6% a month earlier.

Gold

During the Asian trading, the gold rate tested a high at 1208.06, after which it corrected to the level of 1203.50, where it is currently traded. Due to the absence of significant macroeconomic releases in the US, the movement of the instrument is speculative.

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.

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