The US dollar continues to strengthen against most major currencies. The Fed predictably left the interest rate unchanged at 2.25%. In the follow-up statement, the regulator noted positive trends in the development of the US economy and reaffirmed its commitment to the policy of gradual increase in rates in the future. Investors have reacted to the news by actively buying US currency. Macroeconomic events that could have an impact on the instrument today include the publication of data on Producer Price Index in the USA for October. The indicator is expected to remain unchanged at the level of 0.2%.

EUR/USD

The EUR/USD pair fell under the pressure of the strengthening US currency to the area of 1.1345. Today, the macroeconomic calendar of euro area lacks important releases, so the movement of the rate will depend on the news from the US.

GBP/USD

The GBP/USD pair declined to 1.3045 during the Asian session. Today, investors are awaiting publication of statistics from the UK. At 11:30 (GMT+2), the data on GDP and industrial output will be released. GDP is expected to grow from 0.4% to 0.6% on a quarterly basis, and to grow from 1.2% to 1.5% in annual terms. September statistics on the volume of production is not expected to be so positive. On a monthly basis, the indicator may decline by 0.1%, and on an annualized basis, it will grow only by 0.4%.

USD/JPY

Quotes of the pair USD/JPY rose to the level of 114.00 due to the strengthening of USD. In general, the Japanese currency continues to be under pressure from the soft monetary policy of the Bank of Japan, as well as weak macroeconomic statistics of recent days.

AUD/USD

During the Asian session, quotes of the AUD/USD pair declined to the level of 0.7247 under pressure from the strengthening USD and weak statistics from Australia. Home Loans amounted to –1.0% in September from –2.2% a month earlier.

Gold

Due to the general strengthening of USD, gold quotations decreased to 1219.00.

Morning Market Review

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