Daily insights for CFD traders – UK elections impact and Non-Farm Payrolls preview

Stay informed with CA Markets’ daily market update, providing the latest trends and insights in Forex and CFD trading. Our comprehensive analysis and expert advice are designed to keep you informed and ahead in CFD trading. Whether you’re navigating currency pairs or exploring diverse asset classes, our updates offer valuable perspectives to optimize your trading strategies. Trust CA Markets to deliver timely market analysis that empowers your decisions and enhances your trading experience.

Market Recap

The US holiday subdued market activity, with UK Elections showing early signs of a Labour victory. European equities had a positive session while commodities remained stable. AUDUSD reached 0.6732, staying near six-month highs. EUR/USD traded around 1.0800, and GBP/USD held steady at 1.2763. USD/JPY fell below 161.00 to 160.95. With US markets closed, trading was subdued, with minor movements across major currency pairs.

Day Ahead

Today, all eyes are on the Non-Farm Payrolls for June, a key focus for markets influencing monetary policy expectations. Consensus expects stable unemployment at 4.0% and solid non-farm payroll gains of 188k. In Canada, the Labour Force Survey for June will impact expectations for the upcoming BoC meeting, following a strong CPI reading. AUDUSD continues to hover near 0.6732, with resistance expected at 0.6750 and support at 0.6680/90.

Economic Data to Watch

  • JP – May. Household Spending y/y
  • AU – Jun. Foreign Reserves
  • EU – May. Retail Sales y/y
  • US – Fed’s Williams Speaks
  • CA – Jun. Unemployment Rate
  • US – Jun. Average Hourly Earnings y/y
  • US – Jun. Change in Nonfarm Payrolls
  • US – Jun. Unemployment Rate
  • EU – ECB’s Villeroy Speaks

Mid-Market Rates

Currency PairMid-market rate

Disclaimer: The information provided in this daily market update is for informational purposes only and should not be considered as financial advice. Trading Forex and CFDs involves significant risk of loss and may not be suitable for all investors. Past performance is not indicative of future results. CA Markets does not guarantee the accuracy or completeness of the information provided, and we recommend consulting with a qualified financial advisor before making any trading decisions. Users are solely responsible for their own trading activities and decisions.