Here is what you need to know on Friday, July 3: Markets have stabilized as investors digest the better-than-expected Non-Farm Payrolls figures, an upbeat Chinese survey and Americans enjoy a long weekend. Concerns about the surge in US coronavirus cases are keeping the safe-haven dollar and gold bid. US Non-Farm Payrolls figures showed a leap of 4.8 million jobs, far above three million projected and the Unemployment Rate dropped to 11.1%. On the other hand, an increase in permanent layoffs and the timing of NFP surveys – from June 12, before the recent surge. See NFP Analysis: Good, but as good as it gets, re-closing is rapidly ravage reopening gains US coronavirus cases have hit yet another daily high above 50,000, with Florida topping 10,000 infections per day amid an increasing positive test rate. Dr. Anthony Fauci, the top US epidemiologist, said that the US reopened too soon before the virus came under control and that it could mutate. Texas has mandated face masks under certain conditions and other states also imposed restrictions. High-frequency indicators such as gasoline consumption, restaurant reservations, and foot traffic data are pointing to a significant slowdown. Weekly jobless claims for the week ending June 26 remained stubbornly high. Investors are somewhat cheered by the Chinese Caixin Non-Manufacturing Index, which surged to 58.4 points. Brexit talks between top negotiations have been postponed to next week amid disagreements and a “lack of divergence.” On the other hand, both the EU and the UK expressed hope of reaching a “landing zone.” GBP/USD is trading below 1.25 ahead of final Services Purchasing Managers’ Index figures. EUR/USD is back to its morning range of 1.12-1.1250 as European leaders have yet to agree on the EU Fund. Dutch Prime Minister Mark Rutte said a compromise can be achieved. Final services PMIs will likely show a cautious recovery. AUD/USD is advancing after Australia’s final retail sales figures for May came out at 16.9%, better than the original score. WTI Oil is changing hands above $40, extending its upward move. Cryptocurrencies suffered a knee-jerk sell-off late on Thursday before digital currencies found their feet. Bitcoin is hovering above $9,000 once again. US markets will be closed for the Independence Day weekend, keeping volumes and liquidity thin later in the day. More Non-Farm Payrolls: Immense uncertainty remains prevalent, markets may react FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next WTI Price Analysis: Upside momentum fades above $40.00 in Asia FX Street 3 years Here is what you need to know on Friday, July 3: Markets have stabilized as investors digest the better-than-expected Non-Farm Payrolls figures, an upbeat Chinese survey and Americans enjoy a long weekend. Concerns about the surge in US coronavirus cases are keeping the safe-haven dollar and gold bid. US Non-Farm Payrolls figures showed a leap of 4.8 million jobs, far above three million projected and the Unemployment Rate dropped to 11.1%. On the other hand, an increase in permanent layoffs and the timing of NFP surveys – from June 12, before the recent surge. See NFP Analysis: Good, but as good… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
