While market participants wait for the results of the UK general elections, attention is expected to gradually shift to the release of US Nonfarm Payrolls on July 5, following a dull session that witnessed marginal volatility and unusual trade conditions in response to the US Independence Day holiday.
Here is what you need to know on Friday, July 5: The USD Index remained stuck within its multi-session bearish trend, approaching once again the 105.00 neighbourhood. The Nonfarm Payrolls and the Unemployment Rate will be at the centre of the debate on July 5, along with the speech by the Fed ’s J. Williams. EUR/USD picked up pace and extended the recent breakout of 1.0800 the figure.
USD/JPY retreated markedly amidst the Dollar’s sell-off and the inactivity in the US. money market. On July 5, the Japanese docket will include Household Spending, and the preliminary readings of the Coincident Index and the Leading Economic Index. AUD/USD kept its upside bias well in place and revisited the area of three-month highs past the 0.6700 mark. The final Retail Sales are only due in Oz on July 5.
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