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[QUOTE="MikhailLF, post: 166186, member: 42242"] Morning Market Review 2019-06-24 08:44 (GMT+2) EUR/USD The euro showed a sharp rise against the US dollar on Friday, updating local highs of March 22. The reason for the further weakening of the US currency is the decline in the yield of treasury bonds, the pigeon position of the Fed, and the growing risks of currency interventions in addition to lowering the interest rate. The euro was supported by macroeconomic statistics published at the end of the week. In June, according to preliminary estimates, the composite Markit Manufacturing PMI showed an increase from 51.8 to 52.1 points with a "no change" forecast. Markit Services PMI for the same period increased from 52.9 to 53.4 points, which is also above expectations. In turn, US indices showed a decline. Markit Manufacturing PMI fell from 50.5 to 50.1 points while the forecast was 50.4 points. Services PMI dropped from 50.9 to 50.7 points, with a forecast of growth to 51.0 points. GBP/USD The British pound is trading upwards against the US currency, updating local highs of June 12. The instrument is supported by the weak dollar position, which expects monetary policy easing at the Fed meeting in July. Also, investors are waiting for the start of the G20 summit at the end of the week and are hoping for positive results from a possible meeting between US President Donald Trump and Chinese leader Xi Jinping. In turn, the pound is pressured by the increased uncertainty around Brexit. Last week, the head of the European Council, Donald Tusk, noted that he was looking forward to working with the new British Prime Minister, but stressed that the agreements reached under the agreement are not subject to revision. This is a rather alarming signal since practically all candidates for the post of prime minister in one way or another support the revision of certain points of the agreement. The alternative is still the "no deal" Brexit. AUD/USD The Australian dollar showed ambiguous dynamics against the US dollar on June 21, but today it is actively growing again. The strengthening of the instrument is largely due to technical factors, while the macroeconomic background from Australia and the United States remains controversial. The market headed for the weakening of the USD amid the upcoming easing of the Fed's monetary policy, however, in many ways the possible decision of the regulator has already influenced the current level of quotes. USD/JPY The US dollar showed ambiguous dynamics against the yen at the end of the week, reversing near the updated local lows of the beginning of the year. The reason for the slowdown in the "bearish" dynamics was the technical correction, as well as the relatively weak macroeconomic statistics from Japan. Nikkei Manufacturing PMI in June fell from 49.8 to 49.5 points, which turned out to be worse than the expectations of 50.0 points. The growth of the national consumer price index in May slowed down from 0.9% YoY to 0.7% YoY, coinciding with analysts' forecasts. Today, investors are focused on the publication of indexes of leading and coincident indicators in Japan in April. On June 25, the market is waiting for the publication of the minutes of the Bank of Japan meeting. Oil Oil prices showed a moderate increase on June 21, responding to increased tensions in the Middle East after the incident with the US drone shot down by Iran. On Friday, Donald Trump canceled a strike on Iran noting that this could cause a disproportionate loss of lives, so the market is now waiting for the current sanctions to strengthen. In any case, the prospects for US-Iranian relations have noticeably deteriorated and it is obviously not necessary to count on normalizing the situation in the near future. On Friday, slight pressure on quotes was provided by the published Baker Hughes report on active oil platforms in the United States. During the week, the number [/QUOTE]
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