Snapshot:
-Dollar mixed; 10-year Treasury yield at 2.435%; U.S. stock futures edge higher; Nymex at $57.02, gold at $1164.01
-Watch for: Employment report; Canada manufacturing PMI; Bloomberg consumer comfort index; ISM-NY report on business
News: Greece's Syriza Spars Over Bailout Strategy; ECB Keeps Limits on Emergency Loans to Greek Banks; Sweden's Central Bank Cuts Main Rate
The euro edged 0.2% higher against the dollar Thursday to $1.1067 in European trade. The buck had gained on Wednesday on strong private sector jobs data.
The dollar was a touch higher against the yen in Asia trade, as investors largely kept a wait-and-see stance ahead of the release of the jobs data.
With no signs of progress in Greek bailout talks ahead of Sunday's referendum on eurozone bailout conditions, investors are now shifting their focus back to U.S. fundamentals to shape their views on the likely timing for the Federal Reserve to raise short-term rates.
"Market sentiment is slightly biased upward," on better-than-expected U.S. ADP jobs and ISM manufacturing numbers overnight, said Shinichiro Kadota at Barclays. In addition, there are deep-seated views among market players that Greeks will back the eurozone bailout conditions at Sunday's referendum.
U.S. Treasury yields edged slightly higher ahead of the monthly labor data.
At 4.18am ET, the 10-year Treasury yielded 2.435% while the September contract was 3/32 lower at 125-120.
In European bond markets, safe-harbor German debt gave up some of its recent gains. The 10-year German bond yield climbed 0.04 percentage point to 0.85%.
Stock futures pointed to a higher open ahead of Friday's Independence Day holiday and as investors focus on the June jobs report.
The report could confirm that the U.S. economy is strengthening, despite rising global turmoil. Economists forecast a gain of 233,000 jobs in June, a slowdown from 280,000 in May. Still, that would keep job growth above 200,000 mark for the 15th time in the past 16 months.
"It is the wages data that is expected to get the main attention though with average hourly earnings expected to remain steady at 2.3%," said Michael Hewson at CMC Markets.
"A number higher than that could well give the dollar a hefty nudge upwards, as well as raising the prospect of a Fed move on rates at its September meeting," he said.
European stocks edged higher Thursday, with investors still nervously watching Greece's negotiations with its creditors.
Oil prices were up modestly, struggling to recover from sharp losses in the previous trading session on the back of bearish U.S. supply data.
Investors were also tracking the latest twists in the Greek debt crisis that continues to roil financial markets and the Iran nuclear negotiations that could eventually unlock millions of barrels of Iranian crude.
Brent crude, the global oil benchmark, rose 0.4% to $62.30 a barrel on London's ICE Futures exchange. On the New York Mercantile Exchange, West Texas Intermediate futures were trading up 0.1% at $57.02 a barrel.
Gold prices were lower on the London spot market, as better-than-expected employment and manufacturing data out of the U.S. took the shine off the metal. Spot gold was down 0.3% at $1,164.01 a troy ounce in morning European trade--hitting a three-and-a-half-month low during the session at $1,162.50 an ounce.
Greece's Syriza Spars Over Bailout Strategy
A new proposal for budget cuts and policy overhauls from Greek Prime Minister Alexis Tsipras was dismissed by European officials as insufficient to revive negotiations over a new bailout.
ECB Keeps Limits on Emergency Loans to Greek Banks
The ECB kept its limits on emergency loans to Greek commercial banks, a decision that likely will keep capital controls in place at least through Sunday's referendum on the country's willingness to meet creditor demands.
Sweden's Central Bank Cuts Main Rate
Sweden's central bank cut its main interest rate to a new low and increased its bond buying program as it stepped up its battle to raise inflation toward a 2% target amid increasing global economic uncertainty
Justice Department Probes Airlines for Collusion
The Justice Department is investigating whether U.S. airlines colluded on expansion plans, amid concerns from consumer advocates and politicians that the industry is trying to control capacity to keep airfares high.
Hewlett-Packard Officially Files to Split
Hewlett-Packard took a big step toward its Nov. 1 breakup by filing paperwork with the SEC that outlines the two businesses it plans to create.
U.S. Gives U.N. Agency Big Role in Iran Deal
Some U.S. lawmakers and international experts worry that the International Atomic Energy Agency lacks the resources and intelligence capabilities to monitor Tehran's compliance.
Write to Sarka Halas at sarka.halas@wsj.com
(END) Dow Jones Newswires
July 02, 2015 06:16 ET (10:16 GMT)
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