During the Asian session, the US currency shows ambiguous dynamics against most of majors, falling against the yen and the Australian dollar, but showing lateral dynamics paired with the euro and the pound. Fed's Beige Book economic review published last night did not have a significant impact on the instrument. Important points covered in the review include the concern of some industrial enterprises with the increase in production costs in connection with the introduction of trade duties. Against this background, wholesale and retail companies were forced to raise prices in some regions of the United States. Macroeconomic news that could affect the dollar rate today includes the data on initial jobless claims and durable goods orders in the United States.
Under pressure from weak data on Services and Manufacturing PMIs, the EUR/USD pair declined to 1.1413, where it consolidated during the Asian session. Today, investors are waiting for the ECB decision on interest rates, as well as on Mario Draghi's press conference. It is expected that the interest rate will remain unchanged at the level of 0.0%, and the deposit rate will remain at –0.4%. From the speech of the head of the ECB, investors are hoping to find out the regulator’s plans for future monetary policy.
The GBP/USD pair fell to the level of 1.2896. The pressure on the pound is mainly caused by issues with Brexit. There are reports that the UK government has not yet developed a unified position on the main aspects of the country's withdrawal from the EU.
Quotations of the pair USD/JPY dropped to the level of 111.91 during the Asian session. Yesterday's positive data on Manufacturing PMI of Japan, which rose to 53.1 points in October from 52.5 points a month earlier, provide some support to the yen. Today, the dynamics of the instrument rate will be affected by the statistics from the US.
The pair AUD/USD rose to the level of 0.7080 during the Asian session. Due to the absence of significant macroeconomic releases in Australia, the movement of the instrument is technical.
Gold quotes show a positive trend rising to 1238.00 during the Asian session.
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