What drives the market on July 8?
The market takes breath after the long rally. What opportunities do traders have today?
Will the European labor dynamic boost the EUR?
The European unemployment rate will be announced on Thursday at 12:00 MT time.
Instruments to trade: EUR/GBP, EUR/USD, EUR/JPY, EUR/CHF
As the businesses are reopening in the Eurozone, so are the labor statistics expected to bring positive changes to the picture. The unemployment rate was down to 6.4% in February and March, then it rose to 6.6% in April. The end of the second quarter is forecast to show a 7.2% of unemployed people in European countries. Hopefully, lifting the restrictions will improve the picture to ensure that indeed the economy in Europe had passed the bottom of this crisis as it was reported lately.
- If the European labor market improves, the EUR will rise.
- Otherwise, it will fall.
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How to trade on July 7?
The market sentiment deteriorated amid increasing virus cases in the USA and Australia. Investors prefer safe-haven assets like gold, the US dollar and the Japanese yen.
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.
Latest news
Risk-on is back. Market news and trade ideas on July 9
Riskier currencies and stocks are in favor of investors. Surprisingly, gold rallies too. Let’s have a closer look.
GOLD: the era of $1 800
Congratulations! Gold has just opened a new era... or, rather, reopened...
Canadian job data: an attractive release for trading
Canada will publish the employment change and the unemployment rate on July 10, at 15:30 MT time.
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