It's okay not to read this article before NFP, but don't regret it!
<p> With just hours to go before the release of the US NFP jobs data, currency markets are moving in a narrow range amid investor caution.</p><p><br /></p><p>The greenback traded mixed, with the dollar index moving flat at around 103.08 against a basket of major currencies.</p><p><br /></p><p>The US economy is expected to add 224,000 jobs in June, down from the 339,000 gain recorded the previous month.</p><p><br /></p><p>While the unemployment rate is predicted to decrease slightly to 3.6% from 3.7%, while average wage growth is expected to remain at 0.3%.</p><p><br /></p><p>If the recorded reading is stronger, it may provide additional support for the US dollar to resume its previous strengthening.</p><p><br /></p><p><br /></p><p>Taking a look at major currency movements more broadly, the euro traded slightly lower after German industrial production data showed a contraction in May.</p><p><br /></p><p>Meanwhile, the pound traded flat below the 1.2750 price level against the greenback as the market awaited the next catalyst from the US NFP data.</p><p><br /></p><p>On the other hand, the Aussie dollar also moved flat in the European session while the New Zealand dollar rose as it tried to erase previous losses.</p><p><br /></p><p>The yen continued to gain strength against the US dollar and other major currencies despite higher US 10-year bond yields.</p><p><br /></p><p>Additionally, the Canadian dollar remained trading weaker against the greenback ahead of the release of Canadian jobs data in the New York session.</p>
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