Here Come Non-Farm Payrolls

OANDA Senior Market Analyst, Jeffrey Halley looks at the week ahead. A new month and a new quarter could see some rebalancing flows distorting prices in various asset classes as we head into the highlights for July, the global PMI Manufacturing data tomorrow and this Friday’s US Non-Farm Payrolls. We discuss previous data and the great transitory/sticky inflation question and look at likely market reactions to the Friday data. Jeff discusses the implications for the USD Dollar which looks poised for more gains, as well as a warning that all is not well with the Europ and some other major currencies. Delta variant Covid-19 and Asia is covered before Jeff sends out another amber light for gold, which looks particularly vulnerable into Friday.

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