Daily Wrap Up – 6 July

Today's economic agenda is full of some important economic data, as the Australian trade balance began to show a trade surplus of 2.47$ billion in May. Exports rose by 9%, while imports rose by only 1%.

US stocks opened lower on Friday after lower-than-expected US private employment data and tensions from North Korea. The jobs report showed 158,000 jobs in June, while 185,000 jobs were expected.

US jobless claims rose for the third straight week at 248,000, exceeding expectations of 243,000. US non-farm employment data will be watched and waiting to give some support for the US dollar, which fell against most rivals today.

The EURUSD rose strongly from daily lows at 1.1330 and is currently approaching the 1.1425 resistance level. While the USDJPY was trading between the levels of 112.90 and 113.45.