Market Roundup
• US Nonfarm Payrolls (Jun): 57K, 114K forecast, 129K previous.
•US Unemployment Rate (Jun): 4.2%, 4.3% forecast, 4.3% previous.
• US Average Hourly Earnings (MoM) (Jun): 0.3%, 0.3% forecast, 0.3% previous.
• US Initial Jobless Claims: 215K, 219K forecast, 216K previous.
• US Private Nonfarm Payrolls (Jun): 49K, 110K forecast, 97K previous.
• US Average Hourly Earnings (YoY) (Jun): 3.5%, 3.5% forecast, 3.4% previous.
• US U6 Unemployment Rate (Jun): 7.9%, 8.1% previous.
• US Participation Rate (Jun): 61.5%, 61.8% previous.
• US Continuing Jobless Claims: 1,814K, 1,810K forecast, 1,812K previous.
• US Manufacturing Payrolls (Jun): 3K, 3K forecast, -2K previous.
• US Average Weekly Hours (Jun): 34.3, 34.3 forecast, 34.3 previous.
• US Government Payrolls (Jun): 8.0K, 32.0K previous.
• US Jobless Claims 4-Week Avg.: 222.00K, 224.50K previous.
• Canada S&P Global Manufacturing PMI (Jun): 53.0, 52.9 previous.
• US Factory Orders (MoM) (May): -1.3%, -1.7% forecast, 5.3% previous.
• US Factory Orders Ex Transportation (MoM) (May): 1.9%, 1.7% previous.
• US Durables Excluding Defense (MoM) (May): -4.6%, -4.6% previous.
• US Durables Excluding Transport (MoM) (May): 1.4%, 1.3% previous.
• US All Car Sales (Jun): 2.70M, 2.66M previous.
• US All Truck Sales (Jun): 13.82M, 13.42M previous.
Looking Ahead Economic Data (GMT)
• No Data Ahead
Looking Ahead Events And Other Releases (GMT)
• No Events Ahead
Currency Summaries
EUR/USD : The euro strengthened on Thursday as the dollar tumbled after U.S. jobs growth came in weaker than expected.Nonfarm payrolls increased by 57,000 jobs in June, the Labor Department's Bureau of Labor Statistics said in its closely watched employment report on Thursday.That was about half what economists had anticipated. May job gains were revised down to 129,000, from the 172,000 initially reported.Traders of short-term interest-rate futures now see less than a 20% chance of a rate hike in July, though they continue to see an increase in the policy rate in September as likely. The dollar index , which measures the greenback against a basket of currencies, was last down about 0.6%.. Immediate resistance can be seen at 1.1475(SMA 20), an upside break can trigger rise towards 1.1495(50%fib).On the downside, immediate support is seen at 1.1368(38.2%fib), a break below could take the pair towards 1.1291(Lower BB).
GBP/USD: The British pound rose higher against the U.S. dollar on Thursday as the dollar tumbled after U.S. jobs growth came in weaker than expected. U.S. job growth slowed more than expected in June and payroll gains for the prior two months were revised lower, pointing to a cooling labor market and prompting financial markets to dial back expectations for a near-term interest rate hike from the Federal Reserve. Nonfarm payrolls increased by 57,000 jobs last month after a downwardly revised 129,000 rise in May, the Labor Department's Bureau of Labor Statistics said. Economists polled by Reuters had forecast payrolls advancing 110,000 after a previously reported 172,000 increase in May. Bank of England policymaker Catherine Mann said she is prepared to support a rate hike if rising inflation expectations threaten the return of inflation to the 2% target .Immediate resistance can be seen at 1.3389(Daily high), an upside break can trigger rise towards 1.3485(50%fib).On the downside, immediate support is seen at 1.3343(38.2%fib), a break below could take the pair towards1.3296(SMA 20).
USD/CAD: The Canadian dollar strengthened to a 10-day high against its U.S. counterpart on Thursday as U.S. employment data weighed on the greenback and after domestic data showed further growth in the manufacturing sector.U.S. job growth slowed sharply in June and payroll gains for the prior two months were revised lower, pointing to a cooling labor market and prompting financial markets to dial back expectations for a near-term interest rate hike from the Federal Reserve.Canada's manufacturing sector expanded at a slightly faster pace in June as production and employment rose. The S&P Global Canada Manufacturing Purchasing Managers' Index (PMI) edged up to 53.0 last month from 52.9 in May.Immediate resistance can be seen at 1.4227(July 2nd high), an upside break can trigger rise towards 1.4264(23.6%fib).On the downside, immediate support is seen at 1.4152(38.2% fib), a break below could take the pair towards 1.4107(SMA 20).
USD/JPY: The U.S. dollar slipped lower against yen on Thursday as traders weighed a shift in intervention strategy by Japan's Ministry of Finance and speculated whether Tokyo had already moved. Japanese officials were abandoning their habit of telegraphing intervention risks, instead signalling a more targeted campaign to squeeze speculators and raise the cost of betting against the yen.Officials were also avoiding any suggestion of a specific "line in the sand" exchange-rate level that would trigger action, in a more aggressive approach aimed at keeping traders guessing. Immediate resistance can be seen at 162.73(23.6%fib) an upside break can trigger rise towards 163.00(Psychological level) .On the downside, immediate support is seen at 160.81(38.2%fib) a break below could take the pair towards 159.58(50%fib).
Equities Recap
European shares edged higher on Thursday as broad-based sector gains offset weakness in AI-related stocks, while investors assessed weaker-than-expected U.S. jobs data.
UK's benchmark FTSE 100 closed down by 0.40percent, Germany's Dax ended down by 1.31 percent, France’s CAC finished the day down by 0.71percent.
The Dow climbed more than 1% to a record close on Thursday as weaker-than-expected U.S. jobs data eased concerns over further Federal Reserve rate hikes, while a sharp selloff in chip stocks pressured the Nasdaq.
Dow Jones closed up by 1.41% percent, S&P 500 closed down by 0.01% percent, Nasdaq settled down by 0.80% percent.
Commodities Recap
Gold surged more than 2% on Thursday, extending gains after weaker-than-expected U.S. non-farm payrolls data reduced expectations for Federal Reserve interest rate hikes this year.
Spot gold was up 2.2% at $4,116.54 per ounce as of 1:20 p.m. EDT (1720 GMT).U.S. gold futures settled 1.1% higher at $4,125.7.
Oil prices edged higher on Thursday as traders sought to secure supplies ahead of the long U.S. Independence Day holiday weekend.
Brent futures settled at $71.80 a barrel, up 23 cents or 0.32%. U.S. West Texas Intermediate crude finished at $68.69 a barrel, up 11 cents, or 0.16%
