- The dollar loses strength after setting new highs in years.
- Equity markets in positive, with modest gains.
- Japan in shock after assassination of former prime minister.
- The US employment report for June is coming.
Stocks in Europe are rising on Friday, while futures on Wall Street alternate gains and losses. Traders await US jobs report Metals steady, dollar hit new highs worse then retreated.
Waiting for employment report
The FTSE 100 falls 0.50%, while the DAX rises 0.85% and the CAC 40 rises 0.10%. While Wall Street futures are falling modestly. The S&P 500 closed Thursday up 1.5%, in Friday’s preview it is down 0.23%.
Usually, Bonds, Commodities and Stocks Move Sideways Ahead of US Jobs Report. The non-farm payroll data is highly anticipated. The market consensus is for a job creation of 268,000. Official labor market figures will also be published in Canada. China’s June inflation data will be released on Saturday.
The dollar rises again on Friday although it cut gains in the last hours due to the rise in equity markets. EUR/USD hit almost 20-year lows but later erased much of the loss; the euro remains under pressure and does not get any relief even from the “hawkish” statements of the members of the European Central Bank. More analysts say the road to 1,000 looks inexorable.
The DXY it reached as high as 107.80, the highest since October 2002, but then returned below 107.30. Recent moves have brought the major crosses back to Thursday’s closing levels.
The best performing currency among the G10 is the yen. In Japan, former Prime Minister Shinzo Abe was assassinated while he was speaking in public at an event. The pound it shows somewhat stronger after the resignation of Boris Johnson in the United Kingdom. Emerging market currencies remain under pressure, with several at record lows against the dollar.
The treasury bond yields they do not show significant variations before the US data. The 10-year term yields 2.98%, while the 30-year term yields 3.17%. The benchmark German 10-year bond also falls to 1.26%.
The metals they show calm, in line with the market in general, validating the recent fall. The XAU/USD hovers around $1740 and the XAG/USD it stays around $19.00. Oil is moving sideways, posting a modest loss, retaining most of Thursday’s strong rally.
The cryptocurrencies they lost strength in the European session, giving up part of the rebound. The Bitcoin he climbed to $22,450, the highest in three weeks, before giving back $1,000. The chart shows a short-term bullish bias.
In the premarket, Levi Strauss rises almost 4% after presenting an increase in sales. Twitter falls 4%, Meta 0.73% and Tesla 0.73%. Companies reporting results on Friday include Goodman Property Trust, Wakita, and Tata Consultancy Services Limited.
Technical levels
Source: Fx Street
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