Forex news for North American trading on July 2, 2020
In other markets as the week comes to a close shows:
– Spot gold is trading up $10.69 or +0.6% at $1787.29.
The US jobs report for June was released and showed a greater than expected 850k jobs added vs 700K estimate   May was revised to 583K vs 559K. The April report was revised

NASDAQ closes at a record and so does the Dow…
The NASDAQ index also closed at a record today that is the second consecutive record close for the NASDAQ. 

The latest from OPEC +
Meanwhile Russia recommends delaying OPEC+ talks by 1 to 2 days.
It seems there continues to be a stalemate.

The 200 hour MA stalls the rally.
The EURUSD has extended up to the cluster area outlined in a earlier post. That cluster of resistance includes the:

OPEC+ meeting continues
The latest from the OPEC+ meetings is that the UAE as agreed with a one-month delay in making the decision on easing the production cuts, but Russia has opposed the suggested delay.

Forex news from the European trading session – 2 July 2021
Headlines:
Markets:
– CAD leads, NZD lags on the day
– European equities slightly higher; S&P 500 futures up 0.1%

No compromise just yet ahead of the meeting later
As pointed out , the UAE seems to be the sticking point but they are merely asking for their production baseline to be revised – not being against an extension or easing of output cuts – so that is an important distinction when viewing this supposed standoff.

The loonie is holding its ground in European trading
USD/CAD was up earlier to a high of 1.2449 but is now tracking lower to the lows for the day at 1.2418 as the loonie regains some momentum after a sluggish week against the dollar, despite higher oil prices in the lead up to the OPEC+ decision.

It is all about the NFP release today
The payrolls figure will once again steal the headlines initially but barring any shocks and/or surprises, I would say that the devil will be in the details when it comes to digesting the report as a whole.

Latest data released by Eurostat – 2 July 2021
Again, a lot of this likely stems from supply chain disruptions – which will be a persistent issue going into 2H 2021.