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U.S Nonfarm Payrolls Will Put the Greenback in the Spotlight Later Today

Earlier in the Day:

It was a particularly quiet start to the day on the economic calendar this morning. There were no material stats for the markets to consider through the early hours.

For the Majors

At the time of writing, the Japanese Yen was down by 0.04% to ¥111.570 against the U.S Dollar, with the Aussie Dollar down by 0.04% to $0.7467. The Kiwi Dollar was down by 0.13% to $0.6965.

The Day Ahead

For the EUR

It’s a  quiet day ahead on the economic data front. There are no material stats due out of the Eurozone to provide the EUR with direction.

At the time of writing, the EUR was down by 0.03% to $1.1846.

For the Pound

It’s a particularly quiet day ahead on the economic calendar. There are no material stats due out of the UK to influence the Pound.

The lack of stats will leave the Pound in the hands of COVID-19 news updates, with concerns over the Delta variant lingering.

At the time of writing, the Pound was down by 0.02% to $1.3764.

Across the Pond

It’s a busy day ahead.

Government labor market figures are due out later today, with wage growth, nonfarm payroll, and unemployment figures in focus.

Expect the nonfarm payroll and unemployment numbers to have the greatest impact in market risk sentiment.

Following disappointing figures for May, a sharp increase in June NFP numbers would fuel a Dollar rally. FED Chair Powell has highlighted labor market conditions would need to material improve to support a near-term move by the FED.

Other stats include trade data and factory orders that should have a relatively muted impact on the Greenback.

At the time of writing, the Dollar Spot Index was down by 0.03% to 92.573.

For the Loonie

It’s a relatively quiet day ahead on the economic data front. Building permit figures and trade data are due out later today.

Expect the trade data to draw the greatest interest.

At the time of writing, the Loonie was down by 0.02% to C$1.2440 against the U.S Dollar.

For a look at all of today’s economic events, check out our economic calendar.