In trading in Europe, major currencies show mixed performance. The pound (+ 0.15%) and the Canadian (+ 0.16%) are trading in positive territory. The Briton has strengthened after the statements of the chief economist of the Bank of England E. Haldane. He stated that time requires immediate reflection and action to end QE. By the end of this year, inflation in Britain will be above 3%. The GBP/USD pair jumped to 1.3873 (+57 pips). At the time of writing, the price has corrected to 1.3847.
EUR/USD fell to 1.1876 amid falling EUR/GBP cross. The euro fell in price against the British by 36 points, to 0.8569. The pressure on the pair was also exerted by the inflation report in the eurozone. According to preliminary data from Eurostat, the consumer price index rose 1.9% on an annualized basis in June, compared with a 2% rise in May. The indicator is in line with forecasts and in line with the ECB's target of “below but close to 2%”.
Employment of ADP in the USA in June amounted to 692 thousand against the expected +600 thousand. Market participants calmly took the report, as the indicator turned out to be higher than the forecast, and the previous value was revised by 92 thousand from 978 thousand to 886 thousand. 92 thousand we get a forecast of 600 thousand
The EUR/USD pair is trading down 0.13%. If you look at the big picture for two days, the price is trading in the range of 1.1875-1.1915. The end of this week is due to the report of the NFP. There is no close correlation between ADP and NFP, and therefore the response was weak. They pay attention to it when there are strong discrepancies in the actual data by 20-30% of the forecast.