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  3. The Euro fell down a little bit. Overview for 03.07.2020

The Euro fell down a little bit. Overview for 03.07.2020

03.07.2020

EURUSD is entering today’s session with a slight decline; the end of the trading week is expected to be calm.

The major currency pair is slightly falling on Friday. The current quote for the instrument is 1.1230.

Market players are pretty calm in their attitude to risks and the statistics from the USA and China are one of the reasons for that. 

Yesterday, the USA published several reports on its labor market for June. For example, the Unemployment Rate reduced down to 11.1% after being 13.3% in May, while the Non-Farm Employment Change showed 4.8M against the expected reading of 3.037M. Moreover, the May reading was revised upwards, just a little bit but still good. 

The Average Hourly Earnings lost 1.2% m/m after being -1.0% m/m in the previous months and against the expected reading of -0.8% m/m. However, it shouldn’t be surprising: the labor market declined and that had an influence on salaries. 

In general, the US numbers may be estimated as positive, especially in comparison with two months ago. 

The June Caixin Services PMI report from China published in the morning showed 58.4 points after 55.0 points the month before. The sector is reviving and reaching stability, which is a good piece of news for all risky assets. 

The USA has a day off today, that’s why the trading session is expected to be quiet due to lack of statistics. 

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