The trading action in financial markets turns subdued early Thursday as investors gear up for the key June employment report from the US, which will feature Unemployment Rate, Nonfarm Payrolls and wage inflation figures.
The US economic calendar will also offer weekly Jobless Claims data and the Institute for Supply Management's (ISM) Services Purchasing Managers' Index (PMI) report for June.
After starting the day on a bullish note on Wednesday, the US Dollar (USD) lost its recovery momentum in the American session to end the day with small gains. The data published by Automatic Data Processing (ADP) showed that employment in the private sector declined by 33,000 in June.
This reading followed the 29,000 increase recorded in April and missed the market expectation of +95,000 by a wide margin. Financial markets in the US will close early on Thursday and remain closed on Friday in observance of the July 4 holiday.
The USD Index stays relatively quiet in the European morning and moves up and down in a tight range below 97.00. Meanwhile, House Republicans are yet to approve US President Donald Trump's tax-cut and spending bill.
Source: FXstreet
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