The ‘safe-haven’ demand for the US dollar decreased yesterday and is still low this morning due to positive news about the US economy.
Private payrolls increased by 2.369 million jobs last month, whilst the ISM Manufacturing PMI jumped to 52.6 in June of 2020 from 43.1 in May. This was a sharp recovery and shows that the sector grew after three months of coronavirus disruption.
Today, Non-Farm Payrolls will be released for the US, expected to come in at 3 million for June after adding 2.5 million jobs in May. A positive reading could see the dollar weaken.
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