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The US Dollar continues to face pressure as weak labor market figures contribute to its further drop. The Federal Reserve's Semi-Annual Policy Report emphasizes the need for greater confidence before considering rate cuts, indicating a cautious approach to monetary policy. Meanwhile, the British Pound reacts minimally to the UK election results, with GBP/USD showing strength and aiming for a daily close above 1.2800.
Silver prices rally to $31 as US labor market strength eases in June, while the Mexican Peso weakens against the USD due to the Trump factor. Dissent emerges regarding rate cuts in the Eurozone, as the US Dollar maintains its losses for the week despite the Non-Farm Payrolls report failing to trigger a turnaround.
Gold sees a rally following an unexpected rise in the US Unemployment Rate to 4.1%, while Natural Gas experiences a small turnaround with mixed signals from the NFP report. USD/CAD gyrates above 1.3600 after the US/Canada Employment release, reflecting the volatility in the currency pair. Overall, market dynamics remain uncertain and sensitive to economic data releases and geopolitical events.
Learn about my trading tools: https://www.mql5.com/en/users/philip.edits/seller
Silver prices rally to $31 as US labor market strength eases in June, while the Mexican Peso weakens against the USD due to the Trump factor. Dissent emerges regarding rate cuts in the Eurozone, as the US Dollar maintains its losses for the week despite the Non-Farm Payrolls report failing to trigger a turnaround.
Gold sees a rally following an unexpected rise in the US Unemployment Rate to 4.1%, while Natural Gas experiences a small turnaround with mixed signals from the NFP report. USD/CAD gyrates above 1.3600 after the US/Canada Employment release, reflecting the volatility in the currency pair. Overall, market dynamics remain uncertain and sensitive to economic data releases and geopolitical events.
Learn about my trading tools: https://www.mql5.com/en/users/philip.edits/seller
