ForexLive Americas Wrap: Manufacturing up, Sector Employment not so Good

Forex headlines for July 1, 2013: US final manufacturing PMI 51.9 ISM manufacturing PMI 50.9 US construction spending +0.5% ISM manufacturing prices +52.5 European bourses end day in positive territory Deutsche bank analysts see S&P holding above 1525 Goldies forecast for June jobs data below median The main theme for Monday in NY trading was better than expected manufacturing PMI data coupled with softer hiring in the sector that was seen as the weakest in almost 4 years. US equities benefited from the data and were up around 1% for most of the day before slipping a little in afternoon trading with the S&P500 last at 1614 and up 0.48%. EUR/USD spiked to the session low at 1.3014 following the ISM manufacturing number before heading to the day's high as the USD stalled. EUR/GBP buying was also seen supporting the EUR/USD move from the session lows. USD/JPY traded a narrow 99.58-99.86 range in NY today and continues to find support on dips back towards the 99.50 level after having broken higher in late Asian/early London trading. Yen crosses remained well bid for the NY morning before pulling back from the days highs. AUD/USD remained well supported on AUD/JPY buying following the break of the 91.70 level that had capped on numerous attempts to break higher since Friday. The markets will be focused on the RBA interest rate announcement in Australia today with no cut in rates expected. Gold has bounced back from its worst quarter on record last quarter rallying just under 2.5% today. Oil benefited from the better than expected manufacturing data today with Brent Crude ending up 0.82% at 103.00. 10 year yields peaked at 2.56% prior to the NY open and then proceeded to drift lower to 2.48% during NY trading and ends the session just above the days low.