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Dollar, Gold find move up as coronavirus curbs NFP enthusiasm, thin liquidity expected

Markets have stabilized as investors digest the better-than-expected Non-Farm Payrolls figures, an upbeat Chinese survey and Americans enjoy a long weekend. Concerns about the surge in US coronavirus cases are keeping the safe-haven dollar and gold bid.

US Non-Farm Payrolls figures showed a leap of 4.8 million jobs, far above three million projected and the Unemployment Rate dropped to 11.1%. On the other hand, an increase in permanent layoffs and the timing of NFP surveys – from June 12, before the recent surge.

Brexit talks between top negotiations have been postponed to next week amid disagreements and a “lack of divergence.” On the other hand, both the EU and the UK expressed hope of reaching a “landing zone.” GBP/USD is trading below 1.25 ahead of final Services Purchasing Managers’ Index figures.

EUR/USD is back to its morning range of 1.12-1.1250 as European leaders have yet to agree on the EU Fund. Dutch Prime Minister Mark Rutte said a compromise can be achieved. Final services PMIs will likely show a cautious recovery.

AUD/USD is advancing after Australia’s final retail sales figures for May came out at 16.9%, better than the original score.

WTI Oil is changing hands above $40, extending its upward move.

https://www.fxstreet.com/news/forex-today-dollar-gold-find-move-up-as-coronavirus-curbs-nfp-enthusiasm-thin-liquidity-expected-202007030528?

According to Trading Central (3rd party RIA) the EURGBP is long positions above 0.8990 with target at 0.9073 in extension.

* Past performance is not a guarantee of future performance

https://europefx.tradingcentral.com/Product?PK_ANALYSE=10808275

Number of Lots:Required Margin:Risk Management (50%):Potential Profit/Loss 0.9073
1€ 3,333.33€ 1,666.67€ 809.86
5€ 16,666.67€ 8,333.33€ 4,049.31
10€ 33,333.33€ 16,666.67€ 8,098.62
25€ 83,333.33€ 41,666.67€ 20,246.55
50€ 166,666.67€ 83,333.33€ 40,493.10



Gold steadies in tight range as virus fears offset solid U.S. jobs data

Gold was flat, trading in a narrow $4 range on Friday, as worries over surging coronavirus cases globally and lingering trade tensions between the United States and China overshadowed strong U.S. jobs data.

Spot gold was unchanged at $1,775.12 per ounce by 0232 GMT. U.S. markets are closed on Friday for observing Independence Day on July 4.

U.S. gold futures eased 0.1% to $1,787.80.

“Nagging doubts appear to remain in investors’ minds about the explosion of Covid-19 cases in the U.S. sunbelt states and it’s possible negative effect on the recovery going forward,” said Jeffrey Halley, a senior market analyst at OANDA.

“Geopolitical considerations are also to the fore… with a holiday in the U.S., and the weekend upon us, some haven directed buying of gold is definitely evident.”

https://www.cnbc.com/2020/07/03/gold-markets-us-jobs-data-coronavirus-in-focus.html

According to Trading Central (3rd party RIA) the GOLD is long positions above 1715.00 with targets at 1825.00 & 1855.00 in extension.

* Past performance is not a guarantee of future performance

https://europefx.tradingcentral.com/Product?PK_ANALYSE=10807351

Number of Lots:Required Margin:Risk Management (50%):Potential Profit/Loss 1825
0.5 € 3,947.02 € 1,973.51 € 2,315.23
1 € 7,894.03 € 3,947.02 € 4,630.45
5 € 39,470.17 € 19,735.08 € 23,152.27
10 € 78,940.34 € 39,470.17 € 46,304.54
20 € 157,880.68 € 78,940.34 € 92,609.08