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Daily Market Review – 4/07/16

Economic data will be rather light today because of the American Independence Day holiday. The European Sentix Investor Confidence reading and the U.K. Construction PMI will be released however and this will help propel FX trading further. Asian trading this morning has been rather calm with the Nikkei and other Asian Indices putting in slight gains. The JPY The official currency of Japan is the JPY The official currency of Japan is the JPY which is also knows as the Japanese Yen The official currency of Japan is the JPY which is also knows as the Japanese Yen The official currency of Japan is the JPY which is also knows as the Japanese Yen to investors and t... More to investors and t... More to investors and t... More which is also knows as the Japanese Yen to investors and t... More has traded slightly weaker against the USD The USD The USD is the official currency of the United States of America. It is the largest reserve currency... More is the official currency of the United States of America. It is the largest reserve currency... More this morning, but volumes have been rather light.

Gold has continued its march upwards since the Brexit voting results. Gold trading has certainly seen a thrust of buying for the precious metal. With so many risk events still on the table long-term economically and politically Gold has been able to prove its time honoured tradition as a safe haven. The question that investors will be asking is how long Gold can sustain these gains. Gold has not seen a long-term bull A term used that indicates a market or a person believes an asset class will rise because of a prepo... More market in a long time.

Indices across the globe saw plenty of buying. Asian, European and American equities had a very good run last week after investors calmed their nerves. However, it must be asked if the buying was done with a short-term or long-term outlook via investors? The summer will provide plenty of dynamic news events because of the Brexit ramifications, the coming U.S. election, gyrations from Central Banks, and the health of the global economic situation which remains challenging.

China will see the Caixin Services PMI reading early on Tuesday. Chinese data has been rather poor and concerns are rising that the stimulus that was tried by the China government has not had the effect that had been hoped for and that potentially conditions could worsen for the Asian giant.

Traders need to be aware that jobs data will come from the U.S. in full later this week. The Non-Farm Employment Change numbers will be published on Friday and this will follow the ADP statistics and the weekly Unemployment Claims data on Thursday. The USD will be watched carefully by traders this week. While it is generally accepted that the Federal Reserve The Federal Reserve The Federal Reserve The Federal Reserve is the Central Bank of the United States of America and sets the monetary policy When used by traders and investors monetary policy When used by traders and investors monetary policy When used by traders and investors monetary policy usually refers to Central Bank policy concerning ... More usually refers to Central Bank policy concerning ... More usually refers to Central Bank policy concerning ... More ... More is the Central Bank of the United States of America and sets the monetary policy... More is the Central Bank of the United States of America and sets the monetary policy... More will not raise its interest rate anytime soon, the Greenback The USD is the official currency of the United States of America. It is the largest reserve currency... More may show flashes of strength if risk appetite finds itself under pressure.

EUR/USD chart this morning approximately 7:00 GMT, 4 July 2016

EUR The EUR The EUR is the official currency of the European Union. Presently 19 out of the 28 collective  nati... More is the official currency of the European Union. Presently 19 out of the 28 collective  nati... More /USD chart this morning approximately 7:00 GMT, 4 July 2016