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Quiet day in Greece allows for non-farm payrolls focus
Trying to second guess what the Greek Syriza party will do next is a fool’s game, so most currency traders will welcome the momentary lull in developments ahead of this weekend’s referendum. This offers the perfect opportunity to fully focus on the release of today’s US non-farm payrolls figures coming out a day early due to Friday’s US bank holiday in lieu of Saturday’s 4th of July celebrations.
Last month saw 280,000 jobs created and expectations are that we will see 231,000 created this month. This could be one of the more useful tools in assessing how much effect the current stagnation in the eurozone is having on the US economy.
The current levels in EUR/USD, just above $1.1000, have previously seen support materialise, but with so much uncertainty hanging over the Euro side of the equation this might not necessarily be relied upon.