US dollar is strengthening against most majors. Interest in the US currency is maintained against the background of confirming the Fed’s intentions to continue the policy of gradually raising interest rates. Additional support for USD yesterday was provided by statistics on initial jobless claims in the US, which showed a decline to 210K from 215K last week. Macroeconomic releases able to influence the instrument today include data on existing home sales in the US (16:00 GMT+2).


Quotes of the pair EUR/USD decreased to 1.1452 due to the growth of USD. Yesterday’s EU summit in Brussels did not bring any results regarding Brexit, and there are no significant releases in the Eurozone’s current macroeconomic calendar, so the movement of the instrument will be influenced by US news.


The pair GBP/USD fell to the level of 1.3023 under pressure from weak data on retail sales in the UK. On year-on-year basis, the indicator dropped to 3.0% in September from 3.4% a month earlier. MoM, the indicator reduced to –0.8% in September from 0.4% a month earlier. Today investors will be interested in the data on Public Sector Net Borrowing in the UK (10:30, GMT+2) and in the statement of the head of the Bank of England Mark Carney.


The USD/JPY pair rose to 112.50 during the Asian session. Published overnight data on inflation in Japan were generally positive, but could not support the yen. National CPI went up to 1.0% in September against 0.9% a month earlier.


The pair AUD/USD declined to the level of 0.7095 against the background of the general strengthening of USD; however, during the Asian session, it corrected to the level of 0.7119. Due to the absence of significant macroeconomic releases in Australia, the movement of the instrument is mostly technical.


Gold quotations are rising moderately having increased to 1228.52 during Asian trading.

Morning Market Review

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