USD is moderately declining against most majors due to the public holiday in the United States. Trading was influenced by European news. Macroeconomic events that could have an impact on the USD today include the publication of Services PMI in the US. The indicator is expected to grow to 55.0 points in November from 54.8 a month earlier. If the forecast proves correct, it can support the instrument.

EUR/USD

The pair EUR/USD, with the support of the news that the text of the agreement on Brexit was fundamentally approved by the parties, rose to 1.1414. Today, investors will pay attention to the publication of German Manufacturing PMI (10:30 GMT+2), as well as the publication of Services PMI in the euro area (11:00 GMT+2). German Manufacturing PMI is expected to grow to 52.3 points in November from 52.2 points a month before. Services PMI in the euro area is expected to decline to 53.6 points in November from 53.7 points a month before.

GBP/USD

Quotes of the pair GBP/USD rose to the level of 1.2900 after the news that there was a fundamental agreement on the deal between the EU and the UK. According to the agreement, the transition period after Brexit can last up to two years, while the countries will maintain a free trade zone and extensive customs cooperation. Now Theresa May has to convince the Parliament to approve the agreement.

USD/JPY

The USD/JPY pair is declining moderately and has reached the level of 112.80 during the Asian session. Today in Japan, banks and stock exchanges are closed on the occasion of the celebration of Labor Thanksgiving Day. Against this background, the instrument volatility is expected to be lower.

AUD/USD

Quotes of the pair AUD/USD show lateral dynamics within the range of 0.7233–0.7266. Against the background of the absence of macroeconomic releases from Australia, the movement of the instrument's rate is of a technical nature.

Gold

Quotations of gold as a whole have changed only slightly and are traded within the range of 1226.21–1228.76.

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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