US holiday set to dampen trading appetite in the European session today

July 4, 2024
-FCHFX

July 04, 2024 at 05:25AM
Major currencies are already largely lacking appetite, with small changes and tight ranges holding. The dollar was weaker yesterday, following the softer US ISM services PMI here. The moves were decent with EUR/USD pushing the boundaries near 1.0800 but is holding just below the figure level for now.

But with it being the 4th of July celebrations in the US, we are likely to see a markets adopt a more lackadaisical mood until we get to the non-farm payrolls data tomorrow. That is the main event on the week and what will help to give markets something to work with before the weekend.

Until then, it’ll be hard to pick up any moves with much conviction. The UK election will be a focus today and early tomorrow but it should end up being a rather one-sided affair.

This article was written by Justin Low at www.forexlive.com.

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