ForexLive European morning FX news wrap: Dollar firms ahead of US jobs report

Author: Justin Low | Category: News

Forex news from the European morning session - 5 July 2019

Headlines:

Markets:

  • USD leads, NZD lags on the day
  • European equities lower; E-minis down 0.2%
  • US 10-year yields up 1.7 bps to 1.967%
  • Gold down 0.2% to $1,413.85
  • WTI down 0.8% to $56.90
  • Bitcoin down 3.9% to $11,261

EOD 05-07
It was a quiet session for the most part with markets waiting with abated breath on the US jobs report to come at 1230 GMT. The dollar is holding firmer though as it gained some ground during the European morning on (re)positioning flows ahead of the event.

It was a broad-based move with EUR/USD inching to fresh two-week lows from 1.1280 to 1.1260, not helped by weak German factory orders data. Meanwhile, GBP/USD also posted fresh two-week lows falling from 1.2580 to 1.2540-50 levels.

USD/JPY pushed higher amid a slight tick higher in Treasury yields, moving from 107.85 to near session highs around 108.10 currently.

Commodity currencies remain a little weaker against the greenback with the New Zealand dollar in particular coming under pressure on the session. NZD/USD fell from 0.6680 levels to trade at lows now around 0.6660.

Other than that, markets remain quiet with equities inching a tad lower as traders and investors are all waiting on the US jobs report before committing to any firm moves to wrap up the week. In case you missed out on our earlier previews, you can check them out here.

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