The United States Dollar opens the week trading with a bit of quiet strength ahead of tomorrow’s Independence Day holiday in the US.
Overview
Month-end flows dominated the end of last week, so volatility is lower today, along with volume. Last month’s ISM manufacturing print is due out at 10 AM today, which could prompt some small movements for the Buck, but as many sign off for tomorrow’s holiday we expect trading to be relatively muted throughout the day.
Later this week, the Federal Reserve will release the minutes from its June meeting on Wednesday, along with non-farm payroll data due out Friday. The combination of these minutes and employment data will begin to illuminate whether or not the US is actually heading toward a soft-landing scenario. Markets are increasingly optimistic on this front, but downside risk in the macro US picture does remain.
Monex USA will be closed tomorrow, July 4, in observance of Independence Day. We wish all a good holiday – and remember, Monex USA Online is always open!
What to Watch Today…
- No major economic events are scheduled for today
- Monex USA Online is always open
Holiday Donation Results – Thanks for Helping!
Earlier this year, Monex made a donation in honor of your continued trust in us for your FX needs. We’re happy to report that each charity received a percentage of an overall amount based on your votes. Thank you for participating! View Results
Monex USA introduces OPTIONS
With currency exchange rates in a constant state of flux, companies transacting cross-border face the risk of losing substantial sums of money if they fail to hedge their exposure to these shifts. Monex USA now offers a wide range of FX options that could help your business better manage risk. Learn More
