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[QUOTE="MikhailLF, post: 165932, member: 42242"] Morning Market Review 2019-06-18 08:59 (GMT+2) EUR/USD On Monday, EUR against USD rose within the correction, recovering from a sharp decline at the end of the last trading week. The strengthening of the instrument is due to technical factors since investors are in no hurry to open new positions until the Fed’s meeting on Wednesday. Traders are waiting for comments regarding monetary easing in the near future. During the June meeting, the rate cut is doubtful but in July it looks quite likely. Today, during the Asian session, EUR is also trading in an upward manner. On Tuesday, investors expect the publication of a block of EU statistics on consumer inflation and economic sentiment. The market will also pay attention to the speech of the ECB President Mario Draghi and comments from other representatives of the Central Bank. GBP/USD Yesterday, GBP actively declined against USD, renewing its lows from the beginning of the year. The development of negative dynamics was due to the growing concern about the "hard" Brexit. Talk about leaving the UK from the EU without a deal resumed after Teresa May announced her resignation, and candidates who intend to withdraw the country from the EU unambiguously joined the election race. The current leader of the race is Boris Johnson. Monday’s British statistics also did not support GBP. Thus, the housing price index from Rightmove in May slowed down from +0.9% MoM to +0.3% MoM. In annual terms, the indicator did not change after a growth of 0.1% YoY in April. Today, traders are waiting for the speech of the Bank of England’s CEO Mark Carney. AUD/USD AUD is falling against USD, renewing the lows from January 3 of the current year. The demand for commodity assets remains low, as investors fear a further slowdown in the global economy and the expansion of trade conflicts. In addition, traders won’t change the previous trends, preferring to wait for a key Fed meeting, when the terms of interest rate reductions may be announced. Today, during the Asian session, the instrument is declining due to poor statistics on housing prices. An additional “bearish” factor for the instrument is the publication of the RBA Meeting Minutes of June 4, when the regulator decreased the interest rate by 25 basis points. Q1 housing price index fell by 3.0% QoQ after falling 2.4% QoQ last month. Analysts had expected a decrease of only 1.6% QoQ. USD/JPY USD is relatively stable against JPY, trading ambiguously. On Monday, few key macroeconomic statistics from the United States entered the market, so investors continued to discuss the prospects for easing the Fed's monetary policy. Published data on the market value of housing from the NAHB reflected the decline in the index in June from 66 to 64 points, while analysts expected it to rise to 67 points. The index of business activity in the manufacturing sector of the New York Federal Reserve Bank dropped sharply from 17.8 to –8.6 points in June against the forecast of a decline only to 10 points. Oil Yesterday, oil prices fell slightly, as investors focused on the prospects for a slowdown in the global economy and a further decline in demand for petroleum products. Industrial production in China is falling at a record pace and is already at its lowest level of 17 years. Prospects for the normalization of trade relations between the United States and China remain vague, although investors are optimistic about the beginning of the G20 summit in late June. Interruptions in oil supplies due to the tense situation in the Middle East, as well as OPEC+ policies aimed at curbing the growth of oil and oil products, continue to support the prices moderately. Today, investors are focused on the report of the American Petroleum Institute on oil reserves for the week of June 14. [/QUOTE]
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