Major currencies aren’t doing much in the new day, with the dollar ended up trading more mixed yesterday. That said, the greenback remains in a vulnerable spot overall with traders keenly eyeing the US jobs report tomorrow before the long weekend.
EUR/USD continues to hold just under 1.1800 with large option expiries seen at the figure level today. But it is perhaps ECB vice president de Guindos’ remarks here yesterday that is keeping things in check. He put a soft cap on the euro at 1.20 and that’s a bit of a warning signal for traders not to run too far, too fast.
Meanwhile, USD/JPY was pressured a little lower yesterday but the big picture continues to underscore key support closer to 140.00. We also have USD/CHF running lower after breaching below 0.8000 while AUD/USD is trying to keep the upside run from Monday going.
In the equities space, we saw a rotational play come into effect to start July trading. Tech shares were beaten down with the Nasdaq closing lower by 0.8% while the Dow climbed by 0.9% instead. That is keeping things interesting as investors slowly gear towards the non-farm payrolls data tomorrow. US futures are up slightly on the day, roughly around 0.3%.
There won’t be much on the agenda in European trading today to shake things up. As such, it’ll likely be a bit of a quiet one in the session ahead. That before we get to the ADP employment roulette data in US trading and a check of Wall Street’s appetite after the stock rotation yesterday.
ForexLive.com
is evolving into
investingLive.com, a new destination for intelligent market updates and smarter
decision-making for investors and traders alike.
