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US 4th of July holiday and NFP coming up this week

  

Significant events to watch:

-UK (GBP): PMI

-USA (USD): Initial Jobless Claims

-USA (USD): Nonfarm payrolls

UK (GBP): PMI – The Manufacturing Purchasing Managers’ Index (PMI) measures the activity level of purchasing managers in the manufacturing sector. A reading above 50 indicates expansion in the sector; below 50 indicates contraction. Traders watch these surveys closely as purchasing managers usually have early access to data about their company’s performance, which can be a leading indicator of overall economic performance.  The last PMI was 46.2, lower than forecast of 46.8.

The report is due Tuesday,  4 July 08:30 GMT

USA (USD): Initial Jobless Claims – Initial Jobless Claims measures the number of individuals who filed for unemployment insurance for the first time during the past week. This is the earliest U.S. economic data, but the market impact varies from week to week.  Last week’s claims rose to 239K, better than the forecast of 266K.

The report is due Thursday, 6 July 12:30 GMT

USA (USD): Nonfarm payrolls – Nonfarm Payrolls measures the change in the number of people employed during the previous month, excluding the farming industry. Job creation is the foremost indicator of consumer spending, which accounts for the majority of economic activity.  Nonfarm payrolls increased to 339K, higher than the forecast of 180K.

The report is due Friday, 7 July 12:30 GMT

Risers and Fallers

-Nasdaq (+1.45%)

-Microsoft Corp. (+%)

-GBPUSD (+0.69%)

-XAUUSD (+0.52%)

Nasdaq – The Nasdaq increased 1.45% on Friday. The index made a daily high and low of 13,816.67 and 13,716.16, respectively. The index closed at 13,787.92.

Microsoft Corp. (NASDAQ: MSFT) – Microsoft’s share price increased 1.64% on Friday and the stock closed at $340.54. Microsoft is set to roll out AI-powered buyer’s guides for its Bing and Edge search engines.

XAUUSD – XAUUSD increased 0.52% on Friday; gold is trading at $1927.80 per ounce.

GBPUSD – GBPUSD increased 0.69%; the pound rallied on Friday breaking 1.2650 level. The pair is trading at 1.2698.


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