Analysis

Forex. US dollar is strengthening against most majors

US dollar is strengthening against most majors. Services PMI published on Friday, showed a decline to 54.4 points in November from 54.8 points a month earlier, but did not exert significant pressure on USD. The US macroeconomic calendar lacks important releases today. The main event for the instrument in the near future will be the results of a meeting between US President Donald Trump and Chinese President Xi Jinping during the G20 summit in Argentina. Investors are positive about the outcome of the meeting because of recent statements by Donald Trump that China is ready to make a deal. Vice Minister of Commerce of PRC Wang Shouwen, in turn, noted that the American and Chinese trade representatives are in close contact.

EUR/USD

The EUR/USD pair, under pressure from weak Friday statistics from the eurozone, dropped to the level of 1.1344. Today, investors are waiting for publication of the German IFO Business Climate Index for November (11:00 GMT+2), as well as the speech by the ECB Head Mario Draghi (16:00 GMT+2). It is expected that the German index will decline slightly and will reach 102.3 points in November against 102.8 points a month earlier.

GBP/USD

On Friday, quotes of the pair GBP/USD fell to the level of 1.2817, where they consolidated during the Asian session. On Sunday, it became known that the leaders of the European Union countries approved the Brexit deal without reservation. To launch the Brexit process, the document remains to be agreed with the parliaments and governments of the states. The most difficult in this chain of necessary measures will be getting approval in the Parliament of Great Britain itself. The oppositional Labor Party, represented by its leader, Jeremy Corbyn, said it would not support the current draft agreement. Among the opponents of the treaty are also former British Prime Minister Tony Blair and former Foreign Minister Boris Johnson. Despite this, Theresa May is full of optimism about the prospects for ratification of the agreement in parliament.

USD/JPY

Quotes of the pair USD/JPY increased to 113.18 due to the strengthening of USD. Published at night statistics from Japan was contradictory. Manufacturing PMI declined to 51.8 points in November from 52.9 a month earlier. Composite Index of Leading Indicators fell to 104.3 points in November from 104.5 points a month earlier.

AUD/USD

The AUD/USD pair rose to 0.7247 during the Asian session. Due to the absence of important releases in Australia, the movement of the instrument is technical.

Gold

The gold rate is moderately strengthening during the Asian trading having risen to 1224.61.

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