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[QUOTE="MikhailLF, post: 166045, member: 42242"] Morning Market Review 2019-06-20 08:53 (GMT+2) EUR/USD The euro showed growth against the US dollar on Wednesday, departing from local minima, updated as a result of a confident downward rally since June 12. Today, the instrument also grows actively. The reason for the appearance of "bullish" dynamics was the outcome of the US Fed meeting; half of the representatives of the regulator were in favor of lowering the interest rate by the end of the year. Also, the growth in demand for the euro was due to Donald Trump's intentions to meet with Chinese leader Xi Jinping at the G20 summit. More confident growth of EUR on Wednesday was hampered by uncertain macroeconomic statistics from Europe. German producer price index in May fell by 0.1% MoM after rising by 0.5% MoM last month. YoY, the index slowed down from 2.5% to 1.9%. GBP/USD The British pound is trading upwards against the US dollar, quickly regaining the losses of the end of last week. The reason for the strengthening of corrective moods became quite pessimistic comments by the Fed after the meeting on June 19. As expected, the regulator did not change the course of monetary policy but signaled the possibility of such changes in the near future. GBP, in turn, quite coldly reacted to the publication of macroeconomic statistics from the UK on Wednesday. The consumer price index in May slowed down from 0.6% MoM to 0.3%MoM, which coincided with market expectations. YoY, the index slowed down from 2.1% to 2.0%. A report by CBI reflected a sharp decline in industrial orders in June: -15 points against the previous -10. Today, the instrument is also trading upwards, but investors are awaiting the publication of the minutes of the Bank of England meeting. It is expected that the regulator will unanimously vote to maintain the current monetary policy. AUD/USD The Australian dollar showed ambiguous dynamics against the US dollar on June 19. The instrument was moderately supported by corrective sentiment on the US currency that strengthened amid the "dovish" Fed rhetoric. In turn, macroeconomic statistics from Australia continued to put moderate pressure on the pair. The Westpac index of leading economic indicators in May showed a decline of 0.08% MoM after a decrease of 0.05% MoM in April. Today, the instrument is trading upwards, and investors play on the publication of the RBA bulletin and the speech of the head of the regulator Philip Lowe. However, the speech of the RBA head had only a moderate impact on the AUD, since it was almost entirely devoted to the situation on the labor market and did not touch upon aspects of future monetary policy. USD/JPY The US dollar declined markedly against the Japanese yen on Wednesday, interrupting the flat tendency formed since June 3. The yen was supported by the results of the US Fed meeting, after which the market concentrated on discussing the prospects for easing monetary policy at the next meeting of the regulator. Today, investors are focused on the decision of the Bank of Japan on the interest rate and the accompanying press conference. As expected, the key rate was kept at -0.1%. The regulator again complained about the slowdown in exports and production in view of the deteriorating situation in the global economy and the growth of protectionist sentiment. The main forecasts and target levels of the BoJ remained unchanged. Oil Oil prices showed ambiguous dynamics on June 19, despite the publication of optimistic data on the dynamics of oil reserves from the US Department of Energy. According to the report, oil reserves for the week of June 14 decreased by 3.106 million barrels after rising by 2.206 million over the previous period. The report also indicated a reduction in production from 12.300 to 12.200 million barrels per day. Quotes have additional support from hopes for the conclusion of the US-China trade agreement. Earlier, Donald Trump announced a meeting with the PRC leader at the G20 summit, which caused a noticeable enthusiasm in the market. [/QUOTE]
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