Daily Morning Report 03/07/2015
The euro was almost unchanged against the U.S. dollar today, as investors remained cautious ahead of the weekend’s Greek referendum on whether or not the country’s should accept its creditor’s bailout terms.
Meanwhile, sentiment on the dollar remained vulnerable after a string of disappointing U.S. data on Thursday fuelled uncertainty over the timing of a rate hike. The U.S. Commerce Department reported on Thursday that factory orders fell 1.0% in May, compared to expectations for a 0.5% decline.
Separately, the Labor Department reported that the economy added 223,000 jobs in June, compared to expectations for jobs growth of 230,000, although the unemployment rate ticked down to 5.3% last month, from 5.5% in June.
Data also showed that the number of individuals filing for initial jobless benefits in the week ending June 27 increased by 10,000 to 281,000, compared to expectations for a 1,000 fall.