On Friday, the US dollar updated monthly highs against the publication of optimistic statistics on the labor market for June. Thus, the number of people employed in the nonfarm sector increased by 224K in June, while experts forecasted growth by 160K. The average hourly earnings growth did not meet market expectations and counted to 0.2%. At the same time, the previous figure was revised upwards to 0.3%. The unemployment rate rose from 3.6% to 3.7%. Traders suggest that the Fed will not sharply reduce the interest rate after such fairly positive data. On Friday, the US dollar index (#DX) closed in the positive zone (+0.58%).
On Friday, weak economic releases from Canada were also published. Thus, the employment rate fell by 2.2K in June, while investors expected an increase by 10.0K. Ivey PMI counted to 52.4 in June instead of the expected 55.0.
Boris Johnson, a front-runner to replace British Prime Minister, said that the country would most likely exit from the EU without a deal by October 31. “We were pretty much ready on March 29. And we will be ready by October 31,” he told the Sunday Telegraph. The official believes that the UK partners should understand that the country is ready for no-deal Brexit and should be worried about this. We recommend following the current information on the Brexit issue.
The “black gold” prices show positive dynamics. At the moment, futures for the WTI crude oil are testing the mark of $57.70 per barrel.
Market Indicators
- On Friday, there was the bearish sentiment in the US stock markets: #SPY (-0.11%), #DIA (-0.11%), #QQQ (-0.20%).
- The 10-year US government bonds yield has been recovering. Currently, the indicator is at the level of 2.02-2.03%.
The News Feed on 2019.07.08:
- Today the publication of important economic news is not expected.
