USD still supported

The USD is expected to remain generally well supported next week despite the somewhat disappointing June employment report in the US and a lack of relevant economic releases. Even though employment figures were unimpressive, several leading indicators continue to point to a sustained recovery, something difficult to find elsewhere. 

"We believe that the broad picture remains unchanged, and we still feel very comfortable with our bullish USD view",says Barclays.

The most important data release this week will be the publication of the Services ISM for the month of June. An above consensus print of 56.5 (market: 56.0) is expected, a modest improvement from May (56.0).