Job Data Isn’t Enough To Push Dollar – 2 July, 2020

Stronger than expected U.S. job data was overshadowed by the growing number of COVID-19 cases in the country, holding the dollar from advancing as investors remain cautious. As U.S. markets closed ahead of the upcoming July 4th holiday, spot gold was steady at $1,7744.18 per ounce, and U.S. gold futures eased 0.2% to $1,786.50. Despite the positive job data, 31.5 million Americans were still collecting unemployment checks as of the middle of June. The dollar traded at $1.1243 against the euro and held steady against the Swiss franc at 0.9460. Against the yen, the dollar was little changed at 107.57 yen. The onshore yuan was little changed at 7.0665, the kiwi last stood at $0.6514, and the Aussie was steady at $0.6921. Lastly, the pound was trading at $1.2465, landing at 90.20 pence per euro.