USD continues going down against most majors. The statistics from the USA published yesterday turned out to be heterogeneous, but in general it had no noticeable effect on the American currency. Manufacturing PMI declined to 55.3 points in November from 55.4 a month earlier. ISM Manufacturing Employment increased to 58.4 points in November from 56.8 points in a previous month. ISM Manufacturing PMI increased to 59.3 points in November from 57.7 a month earlier. The weakening of USD is promoted by a general decline in investor interest in the US currency, after it became known that the United States and China had found a compromise on the issues of mutual trade for at least 90 days.

EUR/USD

The EUR/USD pair rose to the level of 1.1380 with the support of yesterday's positive statistics from Germany and the euro area, as well as due to the general weakening of the US currency. Today, the macroeconomic calendar of the euro area and the US lacks significant releases, so the movement of the rate will be affected by technical factors.

GBP/USD

After falling to the level of 1.2697, the quotes of the GBP/USD pair corrected to the level of 1.2740, where they consolidated during the Asian session. Today, investors are waiting for the speech of the head of the Bank of England Mark Carney (11:15 GMT+2), as well as on publication of statistics on Construction PMI (11:30 GMT+2). It is expected that the value of the indicator will drop to 52.5 points in November from 53.2 points a month earlier, which, if implemented, could put pressure on the instrument rate. With the help of the speech of the head of the Bank of England, investors hope to find out further actions of the regulator regarding monetary policy. Also today, the debate on the Brexit agreement begins in the British Parliament. The final vote on this issue will be held on December 11.

USD/JPY

Amid the general weakening of the dollar, the USD/JPY quotes continued to show negative dynamics and fell to the level of 113.08 during the Asian session.

AUD/USD

The rate of the pair AUD/USD shows moderate growth during the Asian session climbing to the area of three-month highs at 0.7370. Today, the RBA has left the interest rate unchanged at 1.50% as had been expected, which in turn has not affected the rate of the instrument.

Gold

Against the background of declining interest in the US dollar, gold quotes continue to show a positive trend reaching 1237.00.

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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