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[QUOTE="MikhailLF, post: 165471, member: 42242"] Morning Market Review 2019-06-06 08:42 (GMT+2) EUR/USD EUR showed ambiguous trading against USD on Wednesday. In the morning, EUR was trading higher and the instrument was able to update its local highs of April 17, but then traders began to actively get rid of long positions, which caused a significant pullback. The reason for the emergence of negative dynamics was the aggravation of relations between the Italian government and the EU leadership after representatives of the European Commission announced the validity of the claims. Italy faces a large fine for the excess of public debt, which last year amounted to more than 130%. Wednesday's macroeconomic statistics from euro area provided moderate support to the instrument. Markit Services PMI in May increased from 52.8 to 52.9 points with the forecast of the decline to 52.5 points. Markit Composite PMI for the same period strengthened from 51.5 to 51.8 points, which turned out to be better than market expectations of 51.6 points. GBP/USD Yesterday, GBP broke off its moderate growth against USD and showed a downward reversal. In the first half of the day, consumer sentiment on the pound was supported by good macroeconomic statistics from the euro area and the UK. Markit UK Services PMI in May increased from 50.4 to 51.0 points with the forecast of the increase to 50.6 points only. With the opening of the US trading session, correctional sentiments returned to the market, supported by strong PMI data from ISM. Non-Manufacturing PMI reflected an increase from 55.5 to 56.9 points, although analysts did not expect the indicator value to change. During today's Asian session, the pair shows flat trading, awaiting the appearance of new drivers in the market. On Thursday, investors are focused on the ECB interest rate meeting, as well as on the speech by the Bank of England Governor Mark Carney. AUD/USD AUD showed a decline against USD on Wednesday, departing from local highs of May 10 which were updated the day before. Certain pressure on the instrument was caused by ambiguous macroeconomic statistics released in Australia and China, but the main factor of the correction was the strengthening of the position of USD. During the Asian session on June 6, the pair is relatively stable and shows flat trading. Investors estimate Australian import and export statistics. In April, exports and imports increased by 3% after a decline of 2% last month. April Balance of Trade slightly decreased from AUD 4.887 billion to AUD 4.871 billion, which turned out to be somewhat worse than expectations. USD/JPY USD showed correctional growth against JPY on Wednesday, despite the publication of ambiguous macroeconomic statistics from the United States. In particular, investors paid attention to the extremely weak ADP Employment Change report. In May, the report reflected an increase in the private sector by only 27K new jobs after rising by 271K over the past month. The forecast assumed growth by 180K. Increased attention to the report is due to the upcoming publications on the US labor market on Friday. Oil Oil prices returned to decline on Wednesday, interrupting the development of the correction impulse formed the day before. Powerful pressure on the quotes on Wednesday was exerted by the US Department of Energy Crude Oil Inventory report, indicating a sharp increase in oil reserves in the country. For a week as of May 31, oil stocks in US warehouses increased by 6.771M barrels, after a decrease of 0.282M barrels over the past period. Analysts had expected negative dynamics to remain at –0.849M barrels. At the same time, the report also reflected an increase in oil production in the United States from 12.300M to 12.400M barrels per day. [/QUOTE]
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