The US dollar is strengthening against the euro and the yen, but is declining against the pound and the AUD. The instrument is supported by macroeconomic statistics from the USA published yesterday. Manufacturing PMI increased to 54.9 points in January from 53.8 a month earlier. Initial jobless claims dropped to 199K from 212K a week earlier. Services PMI was better than the forecast of 54.0 points, but dropped to 54.2 points in January from 54.4 points a month earlier. Fundamental events today include Durable Goods Orders data in the US (15:30 GMT+2). It is expected that the indicator will rise to 1.8% in December from –4.3% a month earlier. If this assumption is right, it will support the instrument in the short run.


The EUR/USD quotes amid yesterday's weak statistics on business activity indices in the eurozone and the ECB’s decision to leave interest rates unchanged at 0.00% at least until the end of summer fell to 1.1288. However, during today's Asian session, they are corrected upwards. Investors are waiting for the publication of data on German Ifo Business Climate Index. The indicator is expected to fall to 100.7 points in January from 101.0 points a month earlier. If the forecast is implemented, the rate of the instrument will fall under additional pressure.


The GBP/USD pair rose to 1.3131 during the Asian session. The pound is supported by the news about Democratic Unionist Party's intention to support the alternative Brexit deal by Theresa May next week. Today, traders are waiting for statistics from the UK gross mortgage approvals (11:30 GMT+2). The indicator is expected to decline to 38.9K in December from 39.4K a month earlier. If the forecast proves right, it could put pressure on the pound in the short term.


The USD/JPY pair today rose to 109.76 during the Asian session. Statistics from Japan released at night indicated an increase in Tokyo Core CPI to 1.1% in January from 0.9% a month earlier, but could not provide support to the yen.


Quotations of the pair AUD/USD are declining moderately having amounted to 0.7095 at the backdrop of the absence of macroeconomic releases.


During the Asian session, quotes of gold are growing moderately and consolidated above the level of 1280.00.

Morning Market Review

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