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EUR is relatively stable against USD during today's Asian session. The pair is consolidating near the level of 1.1050 after a steady decline the day before, which led to the updating of local lows from December 2, 2019. Pressure on EUR on Thursday was exerted by the speech of the ECB President Christine Lagarde, who noted the success of the European economy, but pointed out the continuing downward risks. According to the official, the weak dynamics of production and trade still impedes more confident growth. At the end of this week, investors expect the publication of statistics on business activity from Europe and the USA, so trading activity is likely to remain increased.


GBP is weakening against USD, again returning to the "bearish" trend after rising since the beginning of the week. At the moment, the decline is due to technical factors; however, the fundamental reasons for the growth of the instrument are becoming less and less. Optimism regarding the final approval of the Brexit deal is quickly waning, and investors are increasingly worried about the process of working out a new trade agreement between the UK and the EU. Today, investors expect publication of statistics on business activity in the UK and the US. According to current forecasts, the British Manufacturing PMI may grow from 47.5 to 48.9 points, and Services PMI can increase from 50 to 51 points.


NZD is showing slight growth against USD during today's Asian session, trading near weekly highs, updated the day before. Moderate support for the instrument is provided by statistics on consumer inflation in New Zealand for Q4 2019. In quarterly terms, the index slowed down from 0.7% QoQ to 0.5% QoQ, which was only 0.1% QoQ better than market expectations. The annual data reflected a steady increase from 1.5% YoY to 1.9% YoY against the forecast of 1.8% YoY. In turn, weak Credit Card Spending data is holding back the growth of the instrument. In December, the indicator decreased from 4.4% YoY to 3.4% YoY, while the forecast assumed a decrease to 4.3% YoY.


USD shows a slight increase against JPY during today's Asian session, correcting after an active decline the day before, which led to the renewal of local lows of January 9. USD is adding about 0.07%, testing the levels of 109.50–109.60 for a breakout. Investors are focused on macroeconomic statistics from Japan today. Jibun Bank Manufacturing PMI in January rose from 48.4 to 49.3 points against the forecast of an increase to only 48.7 points. National Consumer Price Index rose from 0.5% YoY to 0.8% YoY in December, which was twice as good as market expectations. National CPI ex Food and Energy accelerated in December from 0.8% YoY to 0.9% YoY, coming close to an important 1% mark.


Gold prices are showing a slight decline during today's Asian session, correcting after uncertain growth the day before. Support for the instrument is provided by an increase in the demand for safe assets amid continuing uncertainty. Investors are concerned about the new aggravation of the situation in the Middle East and the unclear prospects for the development of trade relations between the United States and China. The UK also adds uncertainty, which, after Brexit at the end of January, should begin rather lengthy negotiations to develop new terms of trade with the European Union. Finally, coronavirus outbreaks in China ahead of Chinese New Year celebrations also force investors to avoid unnecessary risks.

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