The US dollar is moderately declining against the euro, the pound and the yen, but is strengthening against AUD. US investors are focused on the trade conflict between the United States and China due to which the participants of the APEC summit in Papua New Guinea could not sign the final declaration. The US Vice President Mike Pence said that the United States could double existing duties on Chinese goods and would not change course until China changes its ways. Chinese President Xi Jinping replied that protectionism in the modern world is short-sighted and doomed to failure. The next round of talks between the United States and China will be possible at the G20 meeting in Argentina, but the chances that the parties conciliate are extremely small. Today, investors will pay attention to statistics on construction in the US. It is expected that the number of building permits issued will increase to 1.267 million in October from 1.241 million a month earlier, and Housing Starts could rise to 1.225 million in October from 1.201 million a month earlier.


The pair EUR/USD rose to 1.1450 due to the weakening USD. Due to the absence of significant economic releases from the EU, the instrument movement will be affected by news from the US. Investors continue monitoring the development of the situation around Brexit. British Prime Minister Theresa May has to cope with the internal opposition in the Parliament and approve Brexit deal. Otherwise, the UK will leave the European Union without a deal.


The pair GBP/USD is growing moderately having risen to 1.2878 during the Asian session. Waiting for news regarding Brexit, the pair is consolidating near the reached values. The instrument today may be affected by the speech of the Bank of England head Mark Carney (12:00 GMT+2), as well as statistics on the CBI Industrial Trends Orders (13:00 GMT+2).


The USD/JPY pair dropped to 112.50 during the Asian session. In the absence of news from Japan, the movement of the instrument will be influenced by the information from the United States.


During the Asian session, quotes of the AUD/USD pair fell to the level of 0.7275 after the publication of the minutes of the Reserve Bank of Australia meeting on monetary policy.


Due to the general weakening of USD, gold quotations increased to 1223.46.

Morning Market Review

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