ECB Action Sheds Doubts on Yield Differentials

All eyes turn to today's release of the US June employment report (Friday is an early US close due to US Independence Day), which will raise more questions than answers due to the fast-changing dynamics of data collection, workers classification and revisions (more on why many see an upside surprise below). Global indices extend their ascent with the DAX breaking short-term trendline above 12480s and DOW30 attempting to regain its 200-DMA. Since the start of the Asian session, Kiwi and sterling are the top gainers, while loonie and silver are the only losers against USD. The final target in our Premium long XAUUSD from April 20 remains at 1790 as we have not yet seen the exact print from most platforms (but most of you must have locked in some gains on the way from 1690 entry)