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[QUOTE="MikhailLF, post: 165764, member: 42242"] Morning Market Review 2019-06-14 08:51 (GMT+2) EUR/USD EUR continues to weaken paired with USD, developing a correction impulse formed on Wednesday. USD is rising due to the ambiguous macroeconomic statistics from the US, but investors are also worried about the growing uncertainty around Brexit. It became known that the IMF negatively assesses the prospects for the EU to achieve target levels for economic growth; therefore, it is likely that the Fund will revise its forecasts in the near future. Yesterday, EUR was under pressure from the macroeconomic statistics from the euro area. The volume of industrial production in April fell by 0.5% MoM after a decline of 0.4% MoM last month. In annual terms, the decline has decreased from –0.7% YoY to –0.4% YoY, with the forecast of –0.5% YoY. GBP/USD GBP is trading in both directions against USD, mainly with a decrease since the middle of this week. Brexit remains the main driver for the pound. After the announcement of the resignation of the current British Prime Minister Theresa May, the volatility around Brexit has increased significantly, and the market has again started talking about the possibility of a country leaving the EU without a deal. One of the leaders of the pre-election race, Boris Johnson, is also considering the hard Brexit scenario. On Friday, investors are focused on the US macroeconomic statistics on retail sales and consumer confidence. In the UK, the speech by the Bank of England Governor, Mark Carney, is expected. AUD/USD AUD is declining against USD, updating local lows of May 24. The decrease in the instrument proceeds against the background of the growth of USD practically throughout the entire market, while the macroeconomic statistics from the USA and Australia remain ambiguous. The report on the Australian labor market reflected a steady growth in Employment by 42.3K jobs, which was significantly better than expectations of 17.5K. At the same time, the Unemployment Rate remained at the same level of 5.2%, contrary to forecasts of a decline to 5.1%. During the Asian session on June 14, there are no interesting statistics from Australia, so investors are awaiting the publication of data on Retail Sales and Industrial Production from China. In addition, the press conference of the National Bureau of Statistics will be held. USD/JPY USD fell against JPY on Thursday, being under pressure from weak statistics from the US. In addition, a high level of market uncertainty provides significant support to the yen. Thursday's data from the US indicated an increase in Initial Jobless Claims by 222K, which turned out to be worse than the data for the previous period (219K) and the forecast of 216K. Import Price Index in May decreased by –0.3% MoM and –1.5% YoY, with the forecast of –0.2% MoM and –1.4% YoY. Export Price Index showed a decrease of –0.2% MoM and –0.7% YoY, which also turned out to be noticeably worse than forecasts of –0.1% MoM and –0.5% YoY. During the Asian session on June 14, the instrument is relatively stable. Some support for JPY has been provided by macroeconomic statistics on Industrial Production published in Japan. In April production volumes increased by 0.6% MoM, which coincided with the forecasts. Capacity Utilization in April increased by 1.6% MoM after the decline by 0.4% MoM in the previous month. Oil Oil prices increased significantly on Thursday, responding to information about the attack on oil tankers in the Gulf of Oman. Such news signals not only interruptions in the oil supply, but also exacerbates tensions in the market from the possible tightening of US sanctions. Analysts believe that the US can once again blame Iran for attacks, regardless of whether the state bears any real responsibility for the incident. A certain pressure on the quotes was put by the OPEC monthly report, which among other things reflected the decline in the forecast for oil demand growth in 2019 by 70 thousand barrels per day. On Friday, investors are focused on Baker Hughes Oil Rig Count in the United States. [/QUOTE]
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