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[QUOTE="MikhailLF, post: 165589, member: 42242"] Morning Market Review 2019-06-10 08:53 (GMT+2) EUR/USD EUR rose significantly against USD on Friday, updating local highs of March 22. The reason for the emergence of a confident upward trend was the extremely weak report from the US labor market, which reinforced concerns about the Fed rate cut. In May, Nonfarm Payrolls grew by 75K new jobs, while analysts had expected growth of 185K jobs. In April, the indicator grew by 224K. Average Weekly Hours in May remained at the same level of 34.4 hours, with the forecast for the indicator to rise to 34.5. Average Hourly Earnings in May increased by 0.2% MoM and 3.1% YoY, which again turned out to be worse than market expectations (+0.3% MoM and +3.2% YoY). During the Asian session on June 10, the pair is trading downwards, negatively reacting to ambiguous statistics from China. GBP/USD GBP showed growth against USD on Friday, recovering from the uncertain dynamics of the second half of last week. The strengthening of the British currency was caused by weak data on the US labor market, while the macroeconomic background of the UK remained neutral. At the same time, investors enthusiastically greeted statistics on Halifax House Price Index. In May, prices showed an increase of 0.5% MoM after rising by 1.2% MoM last month. Analysts expected a decline of 0.2% MoM. During the Asian session on June 10, the instrument is relatively stable. Investors are in no hurry to open new trading positions, preferring to wait for new drivers to appear at the market. Today, investors focus on a block of macroeconomic statistics from the UK. Such indicators as Industrial Production, Trade Balance and GDP data for May are expected to be released. Closer to the end of the afternoon session, the speech of the representative of the Bank of England Michael Saunders is expected. AUD/USD AUD rose moderately against USD on Friday, noting local highs of May 8. The growth of the instrument proceeded against the background of the publication of weak data on the US labor market; however, the Australian data were also quite disappointing. AiG Construction Index of Australia in May fell from 42.6 to 40.4 points, which was worse than the average market forecasts. Home Loans in April decreased by 1.2% after a decline of 2.5% in March. Analysts expected a decline of only 0.2%. During the Asian session on June 10, the instrument is trading downwards. Australian markets are closed today due to the Queen's Birthday, so investors are focused on news from the United States. Additional pressure on AUD was exerted by contradictory statistics on imports and exports from China. USD/JPY USD showed a decline against JPY at the end of last week, returning to the same local lows, updated on June 5. Friday's macroeconomic statistics from the US put significant pressure on the US currency and again increased the risks of easing monetary policy by the Fed. At the same time, USD receives moderate support from optimistic signals around the US-Mexico trade negotiations. It is possible that Donald Trump will postpone the imposition of import duties on Mexican goods, which should come into force today, June 10. During today's Asian session, the dollar is trading higher, with investors almost completely ignoring strong statistics from Japan. Japan's GDP in Q1 2019 showed an increase of 0.6% QoQ and 2.2% YoY, with the forecast of +0.5% QoQ and +2.1% YoY. Oil Oil prices recovered significantly at the end of last week, departing from local lows of January 29, updated on June 5. The quotes are supported by positive comments by the Minister of Energy of Saudi Arabia, Khalid Al-Falih, who said that Riyadh does not plan to increase production to compensate for current oil prices, which, in his opinion, remain low and do not imply an increase in investment in the industry. Instead, Saudi Arabia is in favor of extending the OPEC agreement, which ends at the end of this month. At the end of last week, quotes were also supported by Baker Hughes report on active oil rigs in the USA, the number of which for the reporting week dropped sharply from 800 to 789 units. [/QUOTE]
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