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04 Jul 2024

04 Jul 2024

US payrolls in focus

• US holiday. Quiet trading with the US shut for Independence Day. European equities, yields, & EUR higher on the back of easing French political risks.• AUD upswing. Softer USD & relative macro trends supporting the AUD. AUD/USD near the top of the range it has occupied since early-January.• US jobs. US non-farm payrolls released tonight. Signs the US jobs market is cooling could bolster Fed rate cut expectations which would drag on the USD. With the US markets shut for Independence Day it was relatively quiet overnight. There was a bit of a ‘risk on’ vibe in European trading...

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