Introduction
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Analysis of EURUSD
Fundamental Analysis
The US dollar is weakening while investors anticipate Friday’s NFPs. Following disappointing ADP and ISM Services PMI data, the US dollar is coming under increased scrutiny. Markets are now more certain that the Fed will lower rates in September. Investor focus is now shifting to the June Nonfarm Payrolls data, which is due on Friday.
With the US NFP and EU Retail Sales both in the barrel, EUR/USD remains stable. Before a busy Friday, EUR/USD is grabbing bids on the upper side. Bulls in Europe are brushing off a missing factory activity in Germany. To end the trading week, the US NFP and EU Retail Sales are major factors
EURUSD News Schedule
EURUSD Chart Analysis
Analysis of GBPUSD
Fundamental Analysis
GBP/USD is sluggish as the US NFP approaches and the UK election results appear to be matching early polls. The
results of the UK election indicate that the Labour Party is on track to win a majority. After 14years, the British are about to choose a non-Conservative Prime Minister. Friday’s labor data release from the US NFP will wrap up trading week.
GBPUSD News Schedule
GBPUSD Chart Analysis
Analysis of GBPJPY
Fundamental Analysis
Asthe13-day winning streak comes to an end, GBP/JPY takes a break. Thursday’s GBP/JPY is mediocre following a 13-day rise. Limited data is available for both currencies, although volatility may be sparked by the UK elections.
The Japanese Yen is expected to keep depreciating as long as the BOJ sticks to its lenient policy.
GBPJPY News Schedule
GBPJPY Chart Analysis
Analysis of XAUUSD
Fundamental Analysis
The price of gold steadies in erratic trade ahead of the US NFP. On US Independence Day, with limited trading, gold
prices rise by 0.15%. XAU/USD hit a two-week high of $2,365 on Wednesday due to a lack luster US jobs report
and increased prospects of a Fed rate drop. The Nonfarm Payrolls report on Friday is the center of traders’ attention after the US holiday break.
XAUUSD News Schedule
XAUUSD Chart Analysis
Conclusion
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