USD strengthens moderately against most majors during the Asian session after a decline on Monday, caused by weak US retail sales data. Today, investors are waiting for the publication of the US Industrial Production data. It is expected that the indicator will fall to 0.2% in September from 0.4% a month earlier. If the forecast proves right, USD will fall under pressure.


The EUR/USD pair declined to 1.1566 during the Asian session. ZEW Economic Sentiment is expected to be published in Germany and the euro area today. It is expected that ZEW Economic Sentiment in Germany will drop to –12.3 points in October from –10.6 points a month earlier. In the euro area, a decline from –7.2 points to –9.2 points is expected. The implementation of the forecast can cause pressure on EUR.


The pair GBP/USD is relatively stable and trading around 1.3153. Today, investors are waiting for the publication of UK labor market data. It is expected that the Unemployment Rate will remain unchanged at 4%, Claimant Count Change will drop to 4.5K in September from 8.7K a month earlier, and Average Earnings Index + Bonus will remain unchanged at around 2.6% in August. In general, the main factor determining the dynamics of the instrument is news on Brexit. Investors are waiting for the outcome of the upcoming negotiations on the UK exit from the European Union, which will be held at the EU summit this week. The previous attempt by the parties to come to an agreement on Sunday was unsuccessful.


The USD/JPY pair rose to 112.00 during the Asian session. In the absence of news from Japan, the movement of the instrument will be influenced by the information from the United States.


The quotes of the pair AUD/USD went down to 0.7118 after the publication of the RBA meeting minutes. The regulator still believes that the low rate of AUD contributes to sustainable economic growth, and there is no reason to raise rates in the near future. Investors reacted to this news by selling AUD.


The gold rate is consolidating around 1226.56 after active growth during yesterday’s session. Today, investors are waiting for the publication of the US Industrial Production data.

Morning Market Review

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