*The most important data of the day was undoubtedly the Non-Farm Payrolls report from the United States.

US Non-Farm Payrolls Change: 209,000 (Expectation: 225,000; Previous: 339,000)

US Unemployment Rate: 3.6% (Expectation: 3.6%; Previous: 3.7%)

US Average Hourly Earnings (monthly): 0.4% (Expectation: 0.3%; Previous: 0.3%)

US Non-Farm Payrolls came in below expectations after a long time. However, we cannot say that it deviates significantly from the trends. While the market retraced slightly after the strong ADP Non-Farm data released yesterday, the US Employment Market continues to show strength with an unemployment rate of 3.6% and monthly Average Hourly Earnings growth of 0.4%.

The probability of a 25 basis point interest rate hike in the Federal Reserve’s decision on July 26 remains around 95%.

*European Central Bank (ECB) President Lagarde, in her morning statement, did not make any significantly different remarks from before. However, she reiterated that there are still ways to achieve price stability, despite a slight easing in inflation.

Another ECB member, Guindos, who spoke during the day, stated that service inflation is sticky and emphasized that there are more measures to be taken to achieve the long-term 2% inflation target.

*This morning, there were some comments regarding the increase of Japan’s Central Bank’s 10-year bond yield above 0.50%. As there was no clear statement indicating that there will be no change, the Japanese Yen gained strength throughout the day, causing the USDJPY pair to decline to the level of 142.30.”