USD is going down against most majors. The pressure on the American currency is exerted by statistics from the USA published on Friday. The volume of industrial production in monthly terms decreased to 0.1% in October from 0.2% a month earlier, and in annual terms it fell to 4.1% in October from 5.6% a month earlier. Today, in the macroeconomic calendar of the US, there are no releases that can influence USD, so the movement of the instrument will depend on technical factors. Investors continue to focus on the development of trade confrontation between the PRC and the United States. At present, the parties have not been able to reach any agreement. The next round of negotiations will take place during the G20 summit in Argentina, but the chances that the parties will conclude a new trade agreement remain quite low.


The pair EUR/USD rose to 1.1397 due to the weakening USD. Today, the macroeconomic calendar of the euro area lacks significant releases, so the movement of the rate will be affected by technical factors.


GBP strengthened moderately against USD and during the Asian session it consolidated at 1.2817. Investors continue monitoring the development of the situation around Brexit. After approval of the draft of the country's withdrawal from the EU within the government, Theresa May will need to convince parliament to ratify the agreement. If the Prime Minister does not succeed in it, this will entail not only a "tough" exit of the UK from the EU, but also an internal political crisis.


The pair USD/JPY dropped to 112.79 due to the weakened USD. Negative statistics from Japan has been ignored by investors. Trade balance declined to –449 billion dollars in October from 131 billion a month earlier.


The AUD/USD pair rose to 0.7309 during the Asian session. In the absence of news from Australia and the United States, the movement of the instrument is primarily technical.


After active growth on Friday, gold quotes during today's Asian session adjusted to the area of 1218.75.

Morning Market Review

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