{"id":65865,"date":"2023-07-10T10:01:21","date_gmt":"2023-07-10T07:01:21","guid":{"rendered":"https:\/\/ironfx-com-php8.wp-dev.int.theitops.net\/?p=65865"},"modified":"2024-08-26T14:25:37","modified_gmt":"2024-08-26T11:25:37","slug":"junes-us-employment-report-disappoints-traders","status":"publish","type":"post","link":"https:\/\/www.ironfx-id.com\/pt\/junes-us-employment-report-disappoints-traders\/","title":{"rendered":"June\u2019s US employment report disappoints traders"},"content":{"rendered":"<p>The USD was on the retreat against a number of its counterparts on Friday as June\u2019s NFP figure came in lower than expected, implying that the ability of the US economy to create new jobs has loosened. Nevertheless, the report as such tended to send out mixed signals as the unemployment rate ticked down implying that the US employment market tends to remain tight. The release failed to provide support for US stock markets, albeit it did provide some hesitation for stock bears, yet the overall picture of the US employment market is not expected to cause the Fed to hesitate regarding its rate hiking path. Next big test for the USD&nbsp; is expected to be the release of the US CPI rates for June on Wednesday and should the rates fail to slow down or even show an easing of inflationary pressures in the US economy we may see the USD getting some support. Furthermore, we highlight scheduled statements of Fed officials which could shed more light on the Fed\u2019s intentions and if they sound hawkish enough may provide some support for the USD.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe title=\"Fed&#039;s minutes provide little support to the USD\" width=\"750\" height=\"422\" src=\"https:\/\/www.youtube.com\/embed\/A7LdDhDMLnk?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p>On a technical level, we are to examine the USD\u2019s behaviour against a safe haven instrument (JPY) and a commodity currency (AUD) to spot similarities and differences.<\/p>\n\n\n\n<p>USD\/JPY dropped on Friday breaking temporarily the 142.30 (S1) support line, yet was unable to remain below it. Given that the downward trajectory of the pair seems to have been halted we switch our bearish outlook in favour of a sideways movement bias. Should the bears regain control over the pair we may see it breaking the 142.30 (S1) support line, clearly this time and aim for the 140.80 (S2) support level. Should the bulls take over, we may see the pair breaking the 143.65 (R1) resistance line and aim for the 145.10 (R2) resistance level. AUD\/USD rose on Friday yet hit a ceiling on the 0.6700 (R1) resistance line and corrected lower. Given that the pair remained in the boundaries of its sideways motion we maintain our bias. Should the pair find extensive buying orders along its path, we may see it breaking the 0.6700 (R1) resistance line and aim for the 0.6770 (R2) barrier. Should a selling interest be expressed by the market we may see the pair breaking the 0.6620 (S1) support line and aim for the 0.6555 (S2) support base.&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<p>Overall we see that the recovery of the USD during today\u2019s Asian session tends to provide the ground for the greenback to rise in both cases, yet that remains to be seen. &nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-other-highlights-for-the-day\"><strong>Other highlights for the day:<\/strong><\/h2>\n\n\n\n<p>Today during the European session, we note the release of Norway\u2019s CPI rates for June and Eurozone\u2019s Sentix index for July. In the American session, we note the release of Canada\u2019s building permits for May, while on the monetary front San Francisco Fed President Daly, Cleveland Fed President Mester, Atlanta Fed President Bostic and BoE Governor Andrew Bailey are scheduled to speak. During tomorrow\u2019s Asian session, we note the release of New Zealand\u2019s electronic card sales for June as well as Australia\u2019s July consumer confidence and June\u2019s business conditions and confidence indicators.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-as-for-the-rest-of-the-week\"><strong>As for the rest of the week:<\/strong><\/h2>\n\n\n\n<p>On Tuesday we get Australia\u2019s consumer confidence for July and Business conditions for June, UK\u2019s employment data for May and Germany\u2019s ZEW indicators for July. On Wednesday we get from Japan the corporate goods prices for June and Machinery orders for May and in the American session, we highlight the US CPI rates for June, while on the monetary front we note the release of New Zealand\u2019s RBNZ and Canada\u2019s BoC interest rate decisions. On Thursday we note the release of China\u2019s trade data for June, UK\u2019s GDP and manufacturing output for May, Eurozone\u2019s industrial output also for May, and from the US the weekly initial jobless claims figure and the PPI rates for June. On Friday we note the release of Sweden\u2019s CPI rates for June, Canada\u2019s manufacturing sales for May and from the US the preliminary University of Michigan consumer sentiment for July.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-usd-jpy-h4-chart\"><strong>USD\/JPY H4 Chart<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"975\" height=\"456\" src=\"\/wp-content\/uploads\/2023\/07\/image-31.png\" alt=\"support at one hundred and forty two point three and resistance at one hundred and forty three point sixty five, direction sideways \" class=\"wp-image-65866\" title=\"usd-jpy-four-hour-chart\"\/><\/figure>\n\n\n\n<p>Support: 142.30 (S1), 140.80 (S2), 138.80 (S3)<\/p>\n\n\n\n<p>Resistance: 143.65 (R1), 145.10 (R2), 146.80 (R3)<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-aud-usd-h4-chart\"><strong>AUD\/USD H4 Chart<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"975\" height=\"456\" src=\"\/wp-content\/uploads\/2023\/07\/image-32.png\" alt=\"support at zero point six six two and resistance at zero point six seven, direction sideways  \" class=\"wp-image-65867\" title=\"aud-usd-four-hour-chart\"\/><\/figure>\n\n\n\n<p>Support: 0.6620 (S1), 0.6555 (S2), 0.6460 (S3)<\/p>\n\n\n\n<p>Resistance: 0.6700 (R1), 0.6770 (R2), 0.6835 (R3)<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"2001\" height=\"495\" src=\"\/wp-content\/uploads\/2023\/07\/image-33.png\" alt=\"\" class=\"wp-image-65868\" title=\"benchmark-10-07-2023\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1040\" height=\"611\" src=\"\/wp-content\/uploads\/2023\/07\/image-35.png\" alt=\"\" class=\"wp-image-65870\" title=\"table-10-07-2023\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1571\" height=\"1131\" src=\"\/wp-content\/uploads\/2023\/07\/image-34.png\" alt=\"\" class=\"wp-image-65869\" title=\"morning-releases-10-07-2023\"\/><\/figure>\n\n\n\n<p class=\"translation-block\">Se tiver alguma d\u00favida ou coment\u00e1rios sobre este artigo, solicitamos que envie um email diretamente para a nossa equipa de Research atrav\u00e9s do <a href=\"mailto:research_team@ironfx.com\">research_team@ironfx.com<\/a><\/p>\n\n\n\n<p>Isen\u00e7\u00e3o de responsabilidade:<br>Esta informa\u00e7\u00e3o n\u00e3o \u00e9 considerada como aconselhamento ou recomenda\u00e7\u00e3o ao investimento, mas apenas como comunica\u00e7\u00e3o de marketing. O IronFX n\u00e3o \u00e9 respons\u00e1vel por quaisquer dados ou pela informa\u00e7\u00e3o fornecida por terceiros aqui mencionados, ou com links diretos, nesta comunica\u00e7\u00e3o.<\/p>","protected":false},"excerpt":{"rendered":"<p>The USD was on the retreat against a number of its counterparts on Friday as June\u2019s NFP figure came in<\/p>","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-65865","post","type-post","status-publish","format-standard","hentry","category-uncategorized","blog-category-financial-news","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>June\u2019s US employment report disappoints traders<\/title>\n<meta name=\"description\" content=\"The release failed to provide support for US stock markets, albeit it did provide some hesitation for stock bears, yet the overall\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ironfx.com\/pt\/wp-json\/wp\/v2\/posts\/65865\/\" \/>\n<meta property=\"og:locale\" content=\"pt_PT\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"June\u2019s US employment report disappoints traders\" \/>\n<meta property=\"og:description\" content=\"The release failed to provide support for US stock markets, albeit it did provide some hesitation for stock bears, yet the overall\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ironfx-id.com\/pt\/junes-us-employment-report-disappoints-traders\/\" \/>\n<meta property=\"og:site_name\" content=\"Complete Turnkey Introducing Brokers (IB) Solution at IronFX\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-10T07:01:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-08-26T11:25:37+00:00\" \/>\n<meta name=\"author\" content=\"IronFX Team\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/pt\\\/junes-us-employment-report-disappoints-traders\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/pt\\\/junes-us-employment-report-disappoints-traders\\\/\"},\"author\":{\"name\":\"IronFX Team\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/pt\\\/#\\\/schema\\\/person\\\/6727476356d10030d1564b38f6e699b1\"},\"headline\":\"June\u2019s US employment report disappoints traders\",\"datePublished\":\"2023-07-10T07:01:21+00:00\",\"dateModified\":\"2024-08-26T11:25:37+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/pt\\\/junes-us-employment-report-disappoints-traders\\\/\"},\"wordCount\":794,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/pt\\\/#organization\"},\"articleSection\":[\"Uncategorized\"],\"inLanguage\":\"pt-PT\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/pt\\\/junes-us-employment-report-disappoints-traders\\\/\",\"url\":\"https:\\\/\\\/www.ironfx-id.com\\\/pt\\\/junes-us-employment-report-disappoints-traders\\\/\",\"name\":\"June\u2019s US employment report disappoints traders\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/pt\\\/#website\"},\"datePublished\":\"2023-07-10T07:01:21+00:00\",\"dateModified\":\"2024-08-26T11:25:37+00:00\",\"description\":\"The release failed to provide support for US stock markets, albeit it did provide some hesitation for stock bears, yet the overall\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/pt\\\/junes-us-employment-report-disappoints-traders\\\/#breadcrumb\"},\"inLanguage\":\"pt-PT\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.ironfx-id.com\\\/pt\\\/junes-us-employment-report-disappoints-traders\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/pt\\\/junes-us-employment-report-disappoints-traders\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.ironfx-id.com\\\/pt\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"June\u2019s US employment report disappoints traders\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/pt\\\/#website\",\"url\":\"https:\\\/\\\/www.ironfx-id.com\\\/pt\\\/\",\"name\":\"Complete Turnkey Introducing Brokers (IB) Solution at IronFX\",\"description\":\"&quot;Our Introducing Brokers program offers competitive conditions tailored to our partners&#039; needs. 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