Yesterday marked a second consecutive session of subdued volumes and muted market moves in North America, as Canadian markets were closed for Canada Day. Expect similar conditions today, but volatility is likely to return on Thursday with the release of the highly anticipated report at 8:30 A.M. ET (expected at 110K).
The session took a slightly upbeat turn following a surprise beat in US economic data. The S&P printed at 49.0 vs. a 48.8 consensus, and a better-than-expected report helped lift sentiment after a positive overnight session.
This triggered a rebalancing across US indices—flows rotated into the , which closed up 1.06%, while the lagged, ending down 0.83%.
In Europe, data came in broadly in line with expectations but failed to support equity markets, with most indices closing in the red ahead of the U.S. data boost.
Commodities finished mostly in positive territory. remains range-bound but edged higher, while posted a second consecutive +1% session, lifting broader industrial and precious metals along with it.
Daily Cross-Asset Performance
Source: TradingView
Cryptocurrencies continue to trade in a choppy and indecisive range—volatility is present, but directional conviction is lacking in a market that typically thrives on trending momentum.
In the broader asset landscape, the Dow is leading the charge on the upside, extending its recent outperformance. On the flip side, is giving back most of yesterday’s gains, currently sitting as the weakest among major assets.
A Picture of Yesterday’s Performance for Major Currencies
Source: OANDA Labs
The range in forex moves has been muted with the leading majors, the US Dollar rebounding from its 96.50 lows, a key level marked in our latest Analysis after the beat on its economic data.
Forex flows profited from Canadian traders out of their posts to sell the yesterday, leading to being the most volatile pair of the day (-0.66%).
A Look at Economic Data 
MarketPulse Economic Calendar
The overnight session will see the release of Australian (+ 0.4% exp, – 0.1% previous) and the Eurozone .
Except for a few Central Bankers in the early NA morning, we will get the release of US (private employment) at 8:15 and Canadian Ivey at 9:30 A.M.
Safe Trades and Successful Trading for the month ahead!