EUR remains neutral. Overview for 04.07.2022

EURUSD is quite calm early in the week but is yet expected to continue falling.

The major currency pair is stable on Monday. The current quote for the instrument is 1.0433.

Today’s trading session is promising to be calm – the US is celebrating Independence Day and the economic calendar is rather empty.

All major reports will be published during the second half of the week. First of all, of course, it’s the data on the US labour market, which may help market players to assess the sector and see if it is stable enough. It’s very important for investors in anticipation of the next Fed meeting.

For example, the Unemployment Rate is expected to remain unchanged at 3.6%, which is quite good. On the other hand, the Average Hourly Earnings might slow down its growth. However, one should take a closer look at the components of the report before making any far-reaching conclusions. The Non-Farm

Payrolls may show 270K after being 390K the month before and the previous readings might be revised.

Investors are going to look for any signal and hints at the stability of the American economy. The stable labour market might calm them down in their response to the monetary policy tightening this year.

Still, everything will depend, as usual, on the Fed’s sentiment and comments.