- Currencies are stable amid the US holiday and despite Trump’s comments on manipulation.
- There are few economic events today ahead of Friday’s Non-Farm Payrolls.
- Bitcoin has consolidated around the highs, gold around the lows.
Here is what you need to know on Thursday, July 4th, European session:
– US President Donald Trump says that China and Europe are currency manipulators and some analysts say we should expect for something “big” such as intervention by the Treasury.
– Currencies are trading in a narrow range despite Trump’s comments and amid the US Independence Day holiday.
– The US and China have scheduled a call on next week to talk about trade.
– US stocks reached new highs on Wednesday despite weak data all-around – ADP NFP, ISM Non-Manufacturing PMI, and Factory Orders all fell short of expectations.
– Global bond yields have continued falling with the US 10-year below 2% and the German benchmark close to -0.40% – the ECB’s deposit rate.
– The economic calendar lacks any top-tier events today amid the US holiday and ahead of Friday’s all-important Non-Farm Payrolls.
– Bitcoin is consolidating its gains after it temporarily topped $12,000. Other cryptocurrencies are following the trend.
– Gold has stabilized in the low $1,400 after challenging the highs early on Wednesday.
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