[ad_1]
British Brexit Secretary David Davis resigned with two junior ministers, Steve Baker and Suella Braverman, about the latest proposals from Prime Minister May, which were accepted at a cabinet meeting this week -end. He said in a statement that his role requires an "enthusiastic believer" in the approach of May rather than a "reluctant conscript". GBP reacted to data during a period of declining liquidity, with GBPUSD selling slightly from 1.33139 to 1.32846. However, the cable traded higher Monday morning at 1.3335, up 0.37%.
The total impact of the movement has not yet been evaluated with the possibility that PM May now places a "more enthusiastic believer" in the role that could result in a shift in Brexit negotiations to the # 39; future. Alternatively, this may result in a vote of no confidence and a leadership contest. Overall, it is an interesting week ahead in British politics
United States Non-Farm Payrolls (Jun) came out with a 213K count against 195K expected from A previous 223K that has been revised to 244K. This measures the change in the number of people employed in June, which is higher than forecast with a higher revision. The unemployment rate (June) was 4.0% against 3.8% expected with a previous rate of 3.8%. This measures the percentage of the total unemployed labor force and actively seeks employment in June and it is shown that it is increasing. The average hourly wage (June) was 0.2% (month-on-month) and 2.7% (year-on-year), compared to 0.3% (month-on-month) and 2.8% (year-on-year), compared with 0%. 3% (month-on-month) and 2.7% (year-over-year). The labor force participation rate (June) was 62.9% vs. 62.7% expected at a rate of 62.7%. These data showed modest improvements and the markets reacted positively to the headlines, with the US 30 index rising from 24281.90 to 24520.00 and the EURUSD from 1.17164 to 1.17669.
The Canadian unemployment rate (June) was 6.0% against 5.8% expected previous 5.8%. The participation rate (June) was 65.5% against 65.3% expected against 65.3% previously. The net change in employment (June) was 31.8 K versus a forecast of 24.0 K over 7.5 K previously. Unemployment fell to the lowest levels in ten years and was settled around 5.8% but increased by 0.2% with these data. Net change in employment data rebounded strongly, returning to positive territory of less than zero. Canada's international merchandise trade (May) was $ -2.77 billion, down from $ -2.05 billion, up from -1.90 billion previously, revised upwards. and that rose to -1.86 billion dollars. This failed to miss the expected expectations. Overall, the report was positive because it shows that more Canadians are working. EURCAD fell back to 1.53334 but rebounded to 1.54409 after the release of data
Baker Hughes US Oil Rig Counts was released with a 863 increase from 858 last week from 859 previously. Oil prices fell last week after an increase in inventories after three weeks of larger draws than expected. WTI Oil may become volatile around this data publication and will be in the traders' mind when negotiations resume Monday . WTI finished up on Friday to close at $ 72.39.
- The EURUSD is up 0.21% overnight, trading around 1.1773.
- USDJPY is up 0.02% early in trading, trading around 110.47
- GBPUSD is up 0.13% this morning around 1.3335
- Gold is up 0.40% early in the morning to about $ 1,263.66
- WTI is up 0.17% this morning, trading $ 73.64 [19659017] This article was written by FxPro
]
[ad_2]
Source link
