USD is strengthening against most majors, with the exception of the yen. Due to the absence of macroeconomic releases in the US, the movement of USD is technical in nature.

EUR/USD

Due to the absence of macroeconomic releases in the US and euro area, the pair EUR/USD showed ambiguous dynamics. During the trading session on Monday, the pair tested a maximum at the level of 1.5509, after which it moved to the downward correction phase. During the Asian session, the instrument dropped to 1.1459, around which it is consolidating at the moment.

GBP/USD

The GBP/USD pair declined to 1.2970 during the Asian session due to correction of USD. Today, investors will pay attention to BoE MPC Member Haldane speech (12:30 GMT+2), as well as the speech of the head of the Bank of England Carney (17:20 GMT+2). Their comments on the current economic situation may lead to growing volatility of the pair.

USD/JPY

The USD/JPY pair dropped to 112.50 during the Asian session. Due to the absence of significant economic releases from Japan and the US, the movement of the instrument will be of a technical nature.

AUD/USD

The pair AUD/USD continues to show negative dynamics. During the Asian session, the rate fell below 0.7058. In the absence of significant releases, the movement of AUD is technical. In general, AUD continues to be under pressure from the development of a trade war between the US and China, Australia’s largest trading partners. According to experts, the conflict escalation may cause damage to the Australian economy in the form of a 0.3% reduction in GDP by 2022.

Gold

Gold quotations corrected to 1224.61 during Asian session. As there is a lack of key economic releases, the movement of the price is of technical nature.

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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