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[QUOTE="Solid ECN, post: 206657, member: 83167"] [CENTER][B]Morning Market Review[/B][/CENTER] [HR][/HR] [JUSTIFY][B]EURUSD[/B] The European currency shows mixed trading dynamics against the US dollar during the Asian session, consolidating near 1.1000. The euro is still under pressure and is developing a "bearish" momentum, formed last Thursday. At the beginning of a new trading week, negative sentiments again reign among investors amid reports that Europe is preparing a new package of sanctions against the Russian economy. These conversations were catalyzed by accusations by Ukraine that Russian troops had committed a number of crimes in the course of a special military operation. The EU is again discussing the possibility of a complete or partial ban on energy imports, although there is still no unified position on this issue among all members of the bloc. Buying sentiment on Monday was supported only by statistics from Germany. Export volumes from Germany in February increased by 6.4% after a decrease of 3% a month earlier. Analysts expected a growth of only 1.5%. Imports for the same period added 4.5% after declining by 4.0% in January. Thanks to a sharp increase in exports, the Trade Balance in February increased from 8.8 to 11.5 billion euros, which was also better than market expectations at 9.6 billion euros.[/JUSTIFY] [HR][/HR] [JUSTIFY][B]GBPUSD [/B] The pound shows a weak upward dynamics of trading during the morning session, developing the "bullish" momentum formed the day before, when GBP/USD retreated from the local lows of March 30. Demand for the British currency remains quite low, and in general, the instrument shows rather flat dynamics in the short term, due to growing risks of increased pressure against the Russian economy due to the situation in Ukraine. Western countries are discussing the introduction of another package of sanctions against the Russian economy, referring to the crimes of the Russian military in the Ukrainian city of Bucha. New restrictions could include a ban on Russian ships using EU ports, an embargo on coal, oil or gas supplies, and personal sanctions. The UK announced a complete embargo on Russian oil imports back in March, as the dependence of the British economy on energy from the Russian Federation is significantly lower than that of European countries. However, prices for "black gold", gasoline, and gas are growing here too, threatening the pace of national economic recovery. Earlier, the Governor of the Bank of England, Andrew Bailey, warned that the country could face the most powerful crisis since 1970, and inflation by the end of 2022 could reach 9%.[/JUSTIFY] [HR][/HR] [JUSTIFY][B]AUDUSD[/B] The Australian dollar shows confident gains against the US dollar during the Asian session, testing new psychological resistance at 0.7600 for a breakout. Last time, the Australian dollar traded above this level was only in June 2021. The instrument develops the "bullish" momentum formed the day before, when safe and commodity assets began to grow again against the backdrop of increasing risks associated with the introduction of new sanctions against the Russian economy. In particular, bans are expected on the import of Russian energy resources, which may lead to a new round of inflationary pressure. Australian macroeconomic data released on Monday confirmed further growth in consumer prices. Inflation data from TD Securities for March showed an increase of 0.8% after growth of 0.5% a month earlier. In annual terms, the price growth rate accelerated from 3.5% to 4.0%. The focus of the market today is on the results of the meeting of the Reserve Bank of Australia (RBA). As expected, the regulator left the monetary policy unchanged. In the follow-up statement, representatives of the regulator pointed to positive trends in the labor market, and also noted the risks of further price increases. At the same time, the RBA emphasized that inflation in Australia remains significantly lower than in many other countries.[/JUSTIFY] [HR][/HR] [JUSTIFY][B]USDJPY[/B] The US dollar shows a moderate decline against the Japanese yen in Asian trading, retreating from local highs updated last Friday. The American currency is testing the level of 122.50 for a breakdown, waiting for new drivers to appear on the market. The extremely tense situation around Ukraine remains in the spotlight. At the beginning of the week, market participants are again actively discussing the possibility of introducing new sanctions against the Russian economy, which may significantly limit the import of Russian energy resources to Europe, and the changes may also affect the financial sector. Moderate support for the yen today is provided by optimistic macroeconomic statistics from Japan. Jibun Bank Services PMI in March rose from 48.7 to 49.4 points, which was better than the neutral forecasts of analysts. Overall Household Spending rose 10.1% in February after rising 6.9% a month earlier. Market forecasts assumed an increase of only 2.7%. Labor Cash Earnings rose by 1.2%, accelerating from 0.9%, although analysts had expected a reduction of 0.5%.[/JUSTIFY] [HR][/HR] [JUSTIFY][B]Gold[/B] Gold prices stabilize during the Asian session near 1930.00. The market is dominated by "bearish" transactions; however, the overall activity on the instrument remains very low. On Monday, gold prices showed moderate growth, reacting to increased inflationary risks. The markets are again actively talking about the introduction of additional sanctions against the Russian economy, which threatens with a new round of price growth, primarily for energy. Inflation is already well above target levels in many countries, despite central banks hastily raising interest rates. At the same time, wage increases are clearly not keeping pace with rising prices, which, coupled with an increase in the cost of borrowing, has an extremely negative effect on the well-being of taxpayers. Today, the focus of investors will be on a block of macroeconomic statistics from the US, as well as speeches by a number of representatives of the US Federal Reserve. Tomorrow, traders are waiting for the publication of the minutes of the meeting of the US regulator, hoping to see them as signals for further tightening of monetary policy in the country. [/JUSTIFY] [/QUOTE]
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