Negative stability of the euro against the US dollar during the Asian session

Dubai – Bassam Rashed – The Single Currency of the United States European Union fluctuates in a narrow range Jeans Widman, President of the European Central Bank and European Central Bank (ECB), is expected to attend the annual economic conference of the Central Bank of France (FOMC) to open.

At 4:44 GMT, the EURUSD fell 0.01% to 1.1656, compared with the opening at 1.1657 after recording a low of 1.1654 and a high of 1.1668. .

Markets are turning to all eurozone countries to unveil the retail PMI next month, before the speech of the head of the Bundesbank and ECB member Jean Wiedmann under the heading "Towards a more stable monetary union". Health? "At the annual economic conference of the French Central Bank."

It happens a few hours after Chancellor Angela Merkel warned US President Donald Trump of the risk of trade war if his country threatened to impose tariffs on imports of European cars, explaining that the United States was causing trade disputes after the levying of taxes, and could provoke a real trade war if tariffs were imposed on European cars.

On the other hand, the markets observe the US economy to see a shift in jobs in the private sector, which shows the acceleration of job creation to about 190,000 jobs added compared to 178,000 jobs added in May, Expectations of what will result from US labor market data for the last month of Friday, which may reflect the stability of the US labor market rates. 3.8% and the average hourly rate 0.3%.

While there is expectation that the non-farm payroll will change tomorrow, the pace of job creation will slow to around 195,000, up from 223,000 in May. From the US Subsidies Index, which could reflect a decline from about 2K to 225K during the last week of June 30th.

Investors are currently looking for the ISI index to post a contraction of 58.3 vs. 58.3 in May We would like to point out that the index of the supply of services, which is a composite indicator of the conditions of public and retail services, Housing, health care and finance are important because the US service sector accounts for over two-thirds of US GDP.

This precedes the event of today, namely the publication by the Federal Reserve of the minutes of the meeting of the Federal Open Market Committee held on June 12th and 13th. For the second time this year between 1.75% and 2.00%, which was expected by analysts of the time.