Global financial markets traded in narrow ranges on Thursday (July 2) ahead of tonight's US June nonfarm payrolls report (20:30 GMT). The event is expected to bring significant volatility.
The US dollar edged lower against a basket of currencies. GBP/USD consolidated near 1.3286, EUR/USD hovered around 1.1383, and USD/JPY traded near 162.50. In precious metals, gold held steady around $4056, while silver traded in a tight range near $60.04. Crude oil edged lower, with WTI at $67.73.
From a technical perspective, ATR readings across most instruments are low, signaling a wait-and-see mode ahead of the data. A stronger-than-expected NFP could boost the USD and pressure risk assets; a weaker report may trigger a rally in gold and non-US currencies. Traders are advised to manage positions carefully and await clear signals.
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