and prepare for the upcoming economic reports about the US labor market. During the Asian session, Australia will report trade data, and later in Europe, Eurozone Retail Sales are due.US markets dropped moderately on Wednesday on the back of tensions between China and the US, as well as following reports of softer economic activity. The Chinese Caixin Services dropped more than expected, and Japanese, Australian, and Eurozone PMIs were revised lower.
US yields rose, supporting the US Dollar. The 10-year yield climbed to 3.95%, the highest level since mid-March. Therose for the third day, rising above 103.30 but remains under the critical level of 103.50. The short-term direction of the US Dollar will likely be US labor data dependent. The final June Services PMI from the Eurozone was revised modestly lower, and also the Composite PMI, which dropped below 50 for the first time since December. The Eurozone Producer Price Index declined in May by more than expected, with a monthly slide of 1.9% and the annual rate falling from 0.9% to -1.5%. On Thursday, Germany will report Factory Orders, and Eurozone Retail Sales.failed to retake 1.0900 and dropped toward 1.0850, as the Euro lagged and the Dollar outperformed.
rose from 1.3220, approaching 1.3300, hitting the strongest level in two weeks. The Loonie failed to benefit from higher
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