The U.S. Dollar was seen trading mixed by Friday’s close. The commodity risk currencies were the biggest gainers of the day including Gold, which advanced 0.52% by Friday’s close. The Euro and the Pound Sterling were seen trading at weaker levels.
The July Payrolls report showed that the U.S. economy added 157,000 jobs during the month. The headline missed estimates of 191k. But the unemployment rate fell to 3.9% from 4.0% previously. Wage growth was also seen advancing at a pace of 0.3% on the month as expected. This pushed the yearly average wages to 2.7%.
Elsewhere, the UK’s services PMI was weaker than expected, falling to 53.5 in July. This was a weaker print compared to June’s headline of 55.1
Looking ahead, the economic calendar today is very light. The European trading session will be marked by the release of the German Factory Orders report which is expected to show a 0.3% decline. Later, the Eurozone Sentix Investor Confidence report will be coming out with the index forecast to rise to 12.8.
