USD continues to decline against the majority of its competitors. In general, the downward trend is technical. The strengthening of USD the day before, caused by the growth in yields of ten-year government bonds to seven-year highs, provided attractive conditions for taking profits on long dollar positions, resulting in a downward correction. The dollar index fell by 0.34% to 94.94 points in one day.

The main macroeconomic release of the day will be the publication of data on inflation in the United States. It is expected that in annual terms the value of the indicator will decrease to 2.4% in September from 2.7% a month earlier, and in monthly terms it will remain unchanged at the level of 0.2% in September. If the forecast proves right, the instrument will fall under pressure.

EUR/USD

Quotes of the pair EUR/USD rose to the level of 1.1560 due to the weakening of USD. Today, market participants are waiting for the publication of information about the ECB meeting on monetary policy.

GBP/USD

The pair GBP/USD continues showing positive dynamics and rose to 1.3244 during the Asian session. The pound is mainly supported by positive expectations regarding the Brexit talks.

USD/JPY

Amid a decline in investor interest in the dollar, the rate of the pair USD/JPY dropped to 112.10. In the absence of news from Japan, the movement of the instrument will be influenced by US statistics.

AUD/USD

The AUD/USD pair corrected to 0.7071 during the Asian session. Due to the absence of significant macroeconomic releases in Australia, the movement of the instrument is technical.

Gold

Quotes of gold rose to the level of 1193.36 against the background of general weakening of USD.

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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