EUR/USD

The EUR/USD pair shows moderate growth, developing the "bullish" momentum formed the day before. The instrument is preparing to test 1.0900 for a breakout; however, market activity remains moderate as investors await the publication of the final report on the labor market for June from the US Bureau of Labor Statistics. Forecasts suggest an increase in the Nonfarm Payrolls by 225.0 thousand after increasing by 339.0 thousand in the previous month, while the Unemployment Rate may update a record low, falling from 3.7% to 3.6%, and the Average Hourly Earnings in June are expected at around 0.3%, while in annual terms, the figure may slow down from 4.3% to 4.2%. In addition, today, market participants are evaluating the May statistics on Industrial Production in Germany: the monthly figure slowed down from 0.3% to -0.2%, which turned out to be worse than the forecast at the level of 0.1%. The volume of Factory Orders in the country unexpectedly rose in May by 6.4% after -0.4% in the previous month, while analysts had expected 1.5%. Also during the day, the speech of the President of the European Central Bank (ECB) Christine Lagarde is expected, who may clarify the regulator's plans for further tightening of monetary policy.

GBP/USD

The GBP/USD pair is trading mixed, consolidating near 1.2740. The day before, the instrument showed an active upward trend, but closer to the close of the day session, the dollar managed to recoup a little. The US currency was supported by strong data on employment in the private sector from the Automatic Data Processing (ADP), as well as on business activity from S&P and the Institute of Supply Management (ISM). In June, ADP Employment Change increased by a record 497.0 thousand after 267.0 thousand in the previous month, while analysts had expected a decline to 228.0 thousand. At the same time, the number of Initial Jobless Claims for the week ended June 30 increased from 236.0 thousand to 248.0 thousand, while analysts expected 245.0 thousand. The ISM Services PMI rose from 50.3 points to 53.9 points, which was also better than market expectations of 51.0 points, while the S&P index rose from 54.1 points to 54.4 points with a neutral outlook. The focus of investors today will be the final report on the US labor market, which, however, is unlikely to significantly affect the dynamics of the US currency.

AUD/USD

The AUD/USD pair is correcting around 0.6623, recovering from an active two-day decline, which led to a short-term update of local lows from June 29. The development of "bearish" dynamics yesterday was facilitated by data from Automatic Data Processing (ADP) on employment in the US private sector: in June, the indicator added 497.0 thousand after rising by 267.0 thousand in the previous month, while analysts expected only 228.0 thousand new jobs. In turn, today's report on the US labor market may also be better than forecasts. The US Federal Reserve plans to once again raise the interest rate by 25 basis points during the July meeting, and also considers it appropriate to adjust the rate one more time before the end of this year. The Australian dollar was supported the day before by data on Exports, which grew by 4.0% in May after -5.0%, while Imports amounted to 2.0%, as in the previous month, which led to an increase in the trade surplus from 11158.0 million Australian dollars to 11791.0 million Australian dollars, while analysts had expected a decline to 10500.0 million Australian dollars.

USD/JPY

The USD/JPY pair is developing a downtrend, testing the level of 143.80 for a breakdown and updating local lows from June 27. Technical factors contribute to the development of corrective dynamics, while the macroeconomic background of recent days is very favorable for further growth of the US currency. In particular, the day before, investors paid attention to data on employment in the private sector from Automatic Data Processing (ADP): in June, the indicator rose by a record 497.0 thousand after 267.0 thousand a month earlier, while analysts expected 228.0 thousand. Today, the focus of investors is the final report on the US labor market for June: forecasts suggest an increase in the Nonfarm Payrolls by 225.0 thousand after increasing by 339.0 thousand in the previous month, and the Unemployment Rate may decrease from 3.7% to 3.6%. Japanese statistics today provided moderate support to the yen. Labor Cash Earnings rose 2.5% in May after rising 1.0% a month earlier, while experts had expected a slowdown to 0.7%. The Coincident Index rose from 97.3 points to 113.8 points, while the Leading Economic Index rose from 96.8 points to 109.5 points.

XAU/USD

The XAU/USD pair is consolidating near 1915.00, waiting for the publication of macroeconomic statistics in the US, in particular, the final report on the labor market for June. Forecasts suggest an increase in the Nonfarm Payrolls by 225.0 thousand after 339.0 thousand in the previous month, and the Unemployment Rate may fall to a new record low, from 3.7% to 3.6%. Also at the disposal of investors is a report from the company Automatic Data Processing (ADP) on employment in the private sector, which reflected an increase in the number of jobs by 497.0 thousand, which was significantly higher than analysts' expectations at the level of 228.0 thousand. At the same time, traders also drew attention to the accelerated growth in the number of Initial Jobless Claims: for the week ended June 30, the figure rose from 236.0 thousand to 248.0 thousand, while experts expected 245.0 thousand.