EUR / USD
The EUR showed a moderate fall against the dollar during the Asian session, developing a downward trend last week and updating local jute since April, strengthening the country’s monetary policy gradually. Macroeconomic data released on Wednesday from Europe proved neutral and did not provide significant support for the instrument. The main consumer price index in the euro area in June showed a recession from + 1% y / y to + 0.9% y / y. For the same period, the consumer price index was revised from 2% y / y to + 1.9% y / y. r, which was in line with analysts' forecasts. Germany's data showed a sharp decline in the number of unemployed to 38 thousand in June after a decrease of 19 thousand last month. Analysts expected a decrease of 20 thousand. The unemployment rate in Europe's largest economy was 5.9%.
GBP / USD
GBP showed a slight decline against the dollar in the morning session, again ready to test 1.3800 on the break. Positions in the pound sterling remain weak ahead of data release in the US labor market over the weekend. Published on the eve of the report on the change in employment, ADP has strengthened traders' confidence. In June, the number increased to 692 thousand, increasing in May by 886 thousand, while the UK data contributed to additional sales in pounds. In particular, UK GDP, revised in Q12121, has been revised downwards: -1.5% from QQ to -1.6% in QQ. Every year the country's economy again loses 0.1% per year. Today, investors are focused on the issue of PMI Market Manufacturing, along with a speech by Bank of England Governor Andrew Bale.
ADD / USD
ATD is developing a “bearish” trend that was created in the short term. The tool updates local lows from June 21 in response to the strengthening of the US dollar ahead of the June report on the labor market over the weekend. In turn, the relatively positive macroeconomic data in Australia prevented a further decline in confidence in the ADD / USD pair. The IEG production efficiency index in June ranged from 611.8 to 633.2 points. The Commonwealth banks ’PMI output in June strengthened from 58.4 to 58.6 points on a neutral forecast. Australian exports doubled to 6%, and imports rose 3% after falling 3% in April. In May, the country's trade surplus rose to .. 9661 billion from 8026 billion pounds compared to the forecast of 10 billion pounds.
USD / JPY
The US dollar against the JPY in Asia has strengthened at a record high since March 2020. On the eve of the dollar showed steady growth due to ADP reports of moderate optimism about employment in the private sector. The published information has strengthened confidence in the final report of the US labor market, which will be released this Friday. In turn, the market virtually ignored the data from Japan. However, industrial production in Japan in April increased by 2.9% after declining by 5.9% in May. Analysts had expected a “bearish” trend but only a drop in MOM of 2.4%. During the morning session, JPY was supported by good business activity statistics of the Bank of Japan. In the 2nd quarter of 2021, the index of large-scale production of Tankan increased by 5 - 14 points, which was visibly worse than expected, only 1 point.
XAU / USD
Gold prices showed moderate growth during the Asian trading session, experiencing a 1,775.00 breakout. Pressure on quotes remains dependent on market expectations of strong employment data, which many hope will push the U.S. Fed toward a more aggressive monetary policy in the future. The ADP report released yesterday partially lived up to those expectations, as the real dynamics turned out better than expected.
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