European indices are on the defensive on Friday after president Trump announced more tariffs on the Chinese imports. Investors await the key US NFP report for July (1:30pm BST) with anticipation that the employment increased by around 160k. Too high number could limit the room for the Fed to cut rates while too low could suggest a slowdown in the US economy. The data will also be important for the EURUSD that is recovering after the Fed’s decision and is already testing 1.11.
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