Light FX option expiries today shift focus to US non-farm payrolls and risk sentiment ahead of the July 4 holiday.
FX option expiries for the July 1 New York cut are minimal, reducing potential volatility as markets transition past month-end and quarter-end flows. The absence of major expiries leaves dollar sentiment and broader risk appetite as primary drivers for trading activity today.
Markets will navigate a holiday-shortened week, with the US closed early Wednesday and all day Friday for Independence Day. Attention turns to tomorrow’s US non-farm payrolls data, which could constrain price action unless significant headlines or risk shifts emerge. Geopolitical developments, particularly US-Iran tensions, remain a secondary focus.
Traders are expected to adopt a cautious stance ahead of the payrolls release, with subdued activity likely as liquidity thins due to the upcoming holiday.