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14.09.2020
A downtrend is forming on the 4-hour chart. The instrument returned to a decline after a short-term correction and is trading between the middle line and the lower border of Bollinger bands, the indicator cloud has expanded, and the downward trend is likely to continue in the short term. The MACD histogram is in the negative zone, the signal line crosses the body of the histogram downwards, forming a signal to open sell orders. Stochastic is in the neutral zone, the oscillator lines are directed horizontally, without forming a definite signal to enter the market.
The leading index of the London Stock Exchange FTSE 100 demonstrates upward dynamics against the background of positive from the trade deal with Japan and is trading at 6060.0.
At 11:00 (GMT+2) Eurostat is to publish data showing the volume of production in factories and manufacturing enterprises. The growth of the indicator strengthens EUR, and its fall weakens the currency. The indicator is expected to grow by 10.0% in monthly terms and decrease by 18.3% in annual terms.
AUD is trading near zero against USD during today's Asian session, developing mostly flat dynamics at the end of the last trading week. Last Friday's macroeconomic statistics from the US was again ambiguous.
Oil prices have stopped falling and are trading around $39 per barrel this week.
GBP is marginally strengthening against USD in the trading of today's morning session, retreating from the local lows since July 24, updated at the end of last week.
Since the opening of trading, the USD/CAD pair has been declining, trading at 1.3163.
EUR shows insignificant growth against USD during today's Asian session, continuing the development of the moderate "bullish" impulse formed at the end of previous week. EUR is testing 1.1850, waiting for new drivers to appear on the market. Today, European investors are awaiting the publication of July data on the dynamics of industrial production in the eurozone. Forecasts assume that on a monthly basis, Production will accelerate from +9.1% MoM to +10% MoM, while the annual rate is likely to indicate a deterioration in dynamics from –12.3% YoY to –18.3% YoY. In addition, the market continues to analyze the results of the last week's speech by the ECB President Christine Lagarde. The regulator did not change the parameters of monetary policy, and Lagarde took a wait and see attitude, not responding to a noticeable increase in the EUR/USD rate which started in March.
USD is trading in different directions against JPY in today's Asian session, developing a flat channel that formed at the beginning of the month. The ambiguous macroeconomic statistics from the US on the dynamics of consumer inflation, published at the end of last week, did not provide significant support to USD, while JPY was expecting the publication of new drivers.