The course of trading will be determined by statistics on Non-Farm

03.07.2021

Today, all investors’ attention will be focused on the statistics on the US labor market for June. In the event of a strong release on Non-Farm (an indicator of 900 thousand jobs), we can expect a strengthening of the dollar, inasmuch as the market will begin to actively discuss the curtailment of incentives from the Federal Reserve again.

Otherwise, we will expect the growth of the euro on the closure of short positions, which were a lot this week. What data can be released today? The ADP points to a data output within the median of the forecasts, noting low industrial employment. This was also announced yesterday by the ISM Institute, which conducted a survey among managers of industrial companies. Meanwhile, I would not rush now to open positions before the publication of the report and would wait for the official data to act for sure.

Trading recommendation: flat 1.1800 – 1.1900.