The US dollar changed slightly against a basket of major currencies. Yesterday, US financial markets were closed due to Independence Day. Investors have taken a wait-and-see position before the publication of the report on the US labor market for June. Experts expect improvement in key indicators. These statistics may have a significant impact on the Fed’s views on the future rate of monetary policy adjustments. According to the CME FedWatch Tool, more than 70% of financial market participants expect the Fed to reduce the range of key interest rates by 25 basis points to 2.00% -2.25% at a meeting in July. Today we also recommend paying attention to economic releases from the US.
The US currency is under pressure due to the regular statements by US President Donald Trump. The President accused China and Europe of currency manipulations again. “China and Europe playing big currency manipulation game and pumping money into their system in order to compete with USA,” Trump said on Twitter.
The “black gold” prices show negative dynamics. At the moment, futures for the WTI crude oil are testing the mark of $56.50 per barrel.
Market Indicators
- Yesterday, the US stock markets were closed due to Independence Day.
- The 10-year US government bonds yield is consolidating. At the moment, the indicator is at the level of 1.95-1.96%.
The News Feed on 2019.07.05:
- Data on the US labor market at 15:30 (GMT+3:00);
- Employment change in Canada at 15:30 (GMT+3:00);
- Ivey PMI in Canada at 17:00 pm (GMT+3:00).
