Yesterday, the U.S. Bureau of Economic Analysis showed that the trade deficit increased to $41.87 billion in May, beating analysts’ expectations. This positive report in combination with the uncertainty around the Greece’s future in the euro zone pushed the USD Index to a five-week high of 97.40. As a result, AUD/USD moved sharply lower, breaking below another short-term support. Will we see the exchange rate below 0.7370 in the coming days?

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Although the new next finance minister (Euclid Tsakalotos) will represent Greece in an emergency meeting of euro zone finance ministers in Brussels today, the uncertainty over economic stability in Europe continues to weight on investors’ sentiment. In this environment, EUR/USD declined once again, hitting a fresh monthly low. How low could the exchange rate go in the coming days?

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Yesterday’s referendum showed that Greeks rejected conditions for a bailout package, which added to worries over county’s future in the euro zone. As a result, the common currency moved sharply lower against the greenback, reaching the last week’s lows. Will we EUR/USD below 1.0950 in the coming days?

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Although currency market will be closed over the weekend, investors will be focus on the Sunday’s Greek referendum on whether or not the country should accept its creditor's bailout terms. Before we know the results of the vote, let’s take a closer look at the current situation in our six currency pairs.

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Earlier today, the Labor Department reported that the economy added 223,000 jobs in June, missing expectations for a growth of 230,000. Additionally, a separate report showed that the initial jobless claims in the week ending June 27 increased by 10,000, also missing analysts expectations for a 1,000 drop. Thanks to these disappointing numbers, USD/JPY bounced down the short-term resistance, erasing all today’s gains. What’s next?

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