Forex Today: Currencies ignore Trump's comments on manipulation, Bitcoin and gold consolidate

Currencies are stable amid the US holiday and despite Trump's comments on manipulation.
There are few economic events today ahead of Friday's Non-Farm Payrolls.
Bitcoin has consolidated around the highs, gold around the lows.

Yohay Elam FXStreet

Here is what you need to know on Thursday, July 4th, European session:

- US President Donald Trump says that China and Europe are currency manipulators and some analysts say we should expect for something "big" such as intervention by the Treasury.
- Currencies are trading in a narrow range despite Trump's comments and amid the US Independence Day holiday.
- The US and China have scheduled a call on next week to talk about trade.
- US stocks reached new highs on Wednesday despite weak data all-around – ADP NFP, ISM Non-Manufacturing PMI, and Factory Orders all fell short of expectations.
- Global bond yields have continued falling with the US 10-year below 2% and the German benchmark close to -0.40% – the ECB's deposit rate.
- The economic calendar lacks any top-tier events today amid the US holiday and ahead of Friday's all-important Non-Farm Payrolls.
- Bitcoin is consolidating its gains after it temporarily topped $12,000. Other cryptocurrencies are following the trend.
- Gold has stabilized in the low $1,400 after challenging the highs early on Wednesday.

Author

Yohay Elam

FXStreet

Yohay is in Forex since 2008 when he founded Forex Crunch, a blog crafted in his free time that turned into a fully-fledged currency website later sold to Finixio.

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