Dollar posting weekly drop ahead of holiday weekend
Currencies are trading in narrow ranges ahead of the Fourth of July holiday. The dollar is set to post a weekly drop following Jobs data yesterday.
July 3, 2020
EUR/USD 1.1234 GBP/USD 1.2458 USD/CAD 1.3569 AUD/USD 0.6939 USD/JPY 107.50 USD/CNH 7.0684 USD/ILS 3.4345 USD/MXN 22.4497 USD/CHF 0.9460 USD/INR 74.6413
USDThe dollar headed for a weekly drop following improved sentiment in the wake of Jobs numbers released yesterday. Upbeat tone is tempered as coronavirus cases are on the rise across the US.GBP
The pound is lower in thin trading ahead of the holiday weekend. The EU and UK are expected to return to negotiations next week.EURThe euro ticked up 0.1% on the week following last week’s climb. Quarterly pace of economic contraction slowed to 0.2% in June which was better than expected.CAD
Sliding oil prices weighed on the Canadian dollar as the currency slipped versus its US counterpart.ASIA/PACIFIC
The yen is range bound in thin trading ahead of the holiday weekend and is ending the week stronger versus the dollar.
China’s offshore yuan eked out its biggest weekly gain (+0.24%) in four on an uptick in manufacturing purchasing managers’ index adding to signs that the economy is rebounding.
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