Markets:
S&P 500 up 0.8%WTI crude oil down 26-cents to $67.19US 10-year yields up 5.5 bps to 4.35%Gold down $28 to $3328USD leads, JPY lagsThe soft ADP employment report on Wednesday left the market anxious ahead of non-farm payrolls but the headline was strong, even if some of the details took the shine of the report. The US dollar initially surged 40-100 pips led by USD/JPY. Those gains against the pound and commodity currencies were erased in short order but USD/JPY hung onto a 100 pips gain, though failed to extend it as trading thinned later in the day due to the US holiday.
The euro was choppy. It fell to 1.1720 from 1.1780 on the NFP headline only to climb all the way back in the next two hours. From there though, the sellers returned and it slid to 1.1750. Some of the selling might relate to tariff angst with US and EU officials set for intense discussions over the weekend. It's tough to imagine they will get to the finish line without some kicking and screaming on Truth Social.
Treasury Secretary Scott Bessent did offer some concrete details on trade late in the day as he said about 100 countries will get 10% tariff rates. It will be interesting to see how that unfolds but the thinking is increasingly that trading partners will just have to tolerate the competitive moat without retaliating.
Happy 4th of July.
This article was written by Adam Button at www.forexlive.com.Hence then, the article about forexlive americas fx news wrap non farm payrolls beat the consensus was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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