Kathy Lien
BK Asset Management
Will the July Nonfarm Payrolls report disappoint, sending stocks and the US Dollar lower? Let's take a look at what the signal is from the other labor market indicators because forex fundamentals matter for trading.
Past performance is not indicative of future results. Trading forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial advisor if you have any doubts.
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GBP/USD hovers around 1.2750 on UK election day
GBP/USD extends its sideways grind near 1.2750 in the American session on Thursday. A broadly softer US Dollar keeps the pair afloat but traders refrain from placing fresh bets on the Pound Sterling while awaiting exit polls of UK election.
EUR/USD holds steady near 1.0800 after ECB Accounts
EUR/USD continues to fluctuate in a tight range near 1.0800 in the second half of the day on Thursday. The accounts of the ECB's June policy meeting fail to influence the Euro's valuation as trading conditions remain thin, with US markets remaining closed on Independence Day.
Gold trades with caution above $2,350, as focus shifts to US NFP
Gold struggles to build on Wednesday's gains and trades in a narrow band above $2,350. Sustained US Dollar weakness alongside sluggish US Treasury bond yields help XAU/USD limit its losses ahead of Friday's key June jobs report from the US.
Crypto Today: Bitcoin crumbles under German government transfers, Ethereum and Ripple erase gains
Bitcoin trades below $57,100 on Thursday as German government transfers continue, $76 million BTC moved to exchanges. Ethereum trades near $3,100 ahead of the upcoming SEC decision on the Spot Ethereum ETF.
Investors await NFP to validate their Fed rate cut bets
Investors expect two rate cuts, even though Fed signals one. Recent data corroborates investors’ take. Nonfarm Payrolls waited for more confirmation.