EUR/GBP continues to weaken below the key level of 0.8500 as a result of weaker German Industrial Production data and the recent victory of the Labour Party in the UK election. This has put pressure on the euro against the pound, with further downside potential in the near term.
In terms of FX option expiries for July 5 NY cut, traders should keep an eye on any significant expiries that could impact market movements. These expiries can sometimes act as key levels of support or resistance, so it's important to monitor them closely.
Looking ahead, the NFP forecast for US Nonfarm Payrolls growth in June is set to ease down. This could have implications for the US dollar and broader market sentiment, as a slowdown in job growth could weigh on the outlook for the economy.
Overall, traders should remain cautious and stay informed of the latest developments in the markets to navigate through the current trading environment effectively.
Learn about my trading tools: https://www.mql5.com/en/users/philip.edits/seller
In terms of FX option expiries for July 5 NY cut, traders should keep an eye on any significant expiries that could impact market movements. These expiries can sometimes act as key levels of support or resistance, so it's important to monitor them closely.
Looking ahead, the NFP forecast for US Nonfarm Payrolls growth in June is set to ease down. This could have implications for the US dollar and broader market sentiment, as a slowdown in job growth could weigh on the outlook for the economy.
Overall, traders should remain cautious and stay informed of the latest developments in the markets to navigate through the current trading environment effectively.
Learn about my trading tools: https://www.mql5.com/en/users/philip.edits/seller
