What drives the market on July 1?
The market sentiment is mixed. Let’s look at most interesting movements on the market today.
New car sales dip 3% in Germany in June
In June German new car sales went down 3% the previous month, dipping to 327,800 cars, as car industry association VDA informed on Tuesday, pointing to two fewer selling days.
Year-to-date registrations in the EU’s largest car market grew 3% on year-earlier levels, showing 1.79 million cars, VDA told, confirming a Reuters message.
According to the industry association, it expected German domestic vehicle production and exports to decline 2% each in 2017, tumbling to respectively 5.6 million and 4.3 million cars.
Car makers are actually watching with concern the dropping market share of Euro-6 diesel cars as well as the ascending share of fuel-powered cars, emitting higher levels of carbon dioxide emissions, as VDA told. The given organization represents car makers and suppliers including BMW, Volkswagen and Daimler.
With German elections three months away, the country's car industry is supposed to contribute towards an initiative to reduce pollution from diesel powerplants to help to improve air quality and also regain trust, which was spoilt by VW's 2015 emissions scandal.
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Will the NFP push the USD again?
Non-Farm Payrolls data will be released on Thursday at 15:30 MT time.
Will the European labor dynamic boost the EUR?
The European unemployment rate will be announced on Thursday at 12:00 MT time.
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The RBA: keeping the AUD alive?
The Reserve Bank of Australia will publish its statement and announce the interest rate on July 7, at 7:30 MT time.
What will affect markets on July 3?
The overall market sentiment was mixed after the USA recorded the largest increase in virus cases since May 9. The data even offset the better-than-expected NFP.
How to trade on July 2?
The risk-on tone is back on the market again. Let’s look at main trading opportunities.
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