Highlight
- Risk sentiments improve after US employment data
- Quiet day of trading due to 4th July celebrations in the US
- Looking ahead to Chinese inflation and GDP data next week
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DAILY CURRENCY UPDATE – QUIET DAY OF TRADING DUE TO 4TH JULY CELEBRATIONS IN THE US
Published by Uma Rajagopal
Posted on July 5, 2014
1 min readKey Takeaways
- US employment data boosted risk sentiment despite holiday-thinned FX trading.
- Liquidity was light due to 4th July US holiday, leading to subdued currency moves.
- Markets now await next week’s Chinese inflation and GDP data for fresh direction.
References
Frequently Asked Questions
Why was FX trading quiet on 4th July?
Trading volumes were low due to the US Independence Day holiday, reducing liquidity and dampening currency movement.
How did US employment data affect markets amidst the holiday?
Despite the holiday-thinned market, better-than-expected US jobs figures bolstered risk sentiment and provided support to the US dollar.
What should traders watch for next week?
Upcoming Chinese inflation and GDP data are key macro drivers likely to influence currency markets in the coming week.
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