# Forex Major Currencies Outlook (July 08, 2016) Source: https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-july-08-2016/ Language: en Updated: 2016-07-08 Description: Explore Forex Major Currencies Outlook (July 08, 2016). USDThe US. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. **USD** The US dollar advanced against its forex counterparts when the leading jobs indicators hinted at an upside surprise for the NFP. The ADP non-farm employment change report showed a 172K gain versus the projected 158K increase and the previous 168K rise. Analysts are expecting to see a 175K gain in hiring for the NFP report and an increase in the jobless rate from 4.7% to 4.8%. Revisions to previous reports could also have a strong impact on dollar action. **EUR** The euro slumped against its forex peers as the ECB minutes acknowledged the potential repercussions from a Brexit. German industrial production was weaker than expected with a 1.3% slump versus the projected 0.1% uptick. Only the German trade balance and French industrial production numbers are due from the euro zone today. **GBP** The pound tried to limit its losses and drew a bit of support from better than expected UK manufacturing production numbers. Manufacturing production fell 0.5% versus the estimated 1.0% decline while industrial production showed a smaller than expected drop as well. Only the goods trade balance is due from the UK today. **CHF** The franc gave up ground to its counterparts once more after the foreign currency reserves showed a gain from 602 billion CHF to 609 billion CHF. Swiss CPI was slightly better than expected at 0.1% instead of the estimated flat reading. The Swiss jobless rate is due today and no change from the previous 3.5% figure is eyed. **JPY** The yen was mostly stronger in recent trading sessions as risk aversion stayed in the financial markets. Data from Japan came in mostly weaker than expected today, with the current account balance and average cash earnings falling short of consensus. **Commodity Currencies (AUD, NZD, CAD)** The Kiwi was one of the leading performers for the day after an RBNZ official said that lowering rates further would lead to financial instability. Meanwhile, the Australian dollar suffered after the S&P downgraded the country’s sovereign debt rating on political uncertainty. Canada released mixed reports, with a strong Ivey PMI and a downbeat building permits figure, and the jobs report is up next. Analysts are expecting to see a 5.5K gain in hiring and a rise in the jobless rate. *By Kate Curtis from Trader’s Way* ## Structured data JSON-LD as served in the HTML version of this page. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Article", "@id": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-july-08-2016/#primary", "url": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-july-08-2016/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/forex-major-currencies-outlook-july-08-2016/", "headline": "Forex Major Currencies Outlook (July 08, 2016)", "inLanguage": "en", "datePublished": "2016-07-08T06:11:43+00:00", "dateModified": "2016-07-08T06:11:43+00:00", "articleSection": "Market Info", "description": "Explore Forex Major Currencies Outlook (July 08, 2016). USDThe US. 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