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Currency Market Analysis

Jul 02, 2020 | Currency Market Analysis

Global Themes

USD slips ahead of US jobs at 8.30pm

The US dollar was weaker overnight as a weaker US dollar boosted the currency pair.

The USD fell as sharemarkets mostly gained overnight, although the US’s Dow Jones flel in the final part of trading,

The US technical index, the Nasdaq, closed at an all-time highs, boosted by big gains in Tesla, which surpassed Toyota overnight as the world’s most valuable car company.

Euro, Aussie gain

The weaker US dollar saw other major currencies gain.

The EURSGD was stronger as it climbed from one-month lows.

The AUDSGD neared one-month highs.

US jobs

The main release over the next 24 hours is clearly the US non-farm employment report due at 8.30pm.

The market is looking for 3.0 million jobs to be gained.

The monthly non-farm employment released tonight, rather than Friday, to account for the Independence Day holiday.

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