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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.

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

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.”

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

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