币界网报道：US June ADP employment -33,000, expected to be +95,000 Trump announced a trade deal with Vietnam, including a 20% tariff Non-farm payrolls report preview: ADP brings a chill to the market S&P Global June Canadian Manufacturing PMI 45.6, previous value was 46.1 US Treasury Faulkender: Multiple trade agreements are expected to be reached next week Politico: Vietnam agreement will be finalized in the next few weeks. Will be the framework for other agreements Goldman Sachs: We expect non-farm payrolls to come in below consensus by 85k EIA weekly oil inventories +3.845m barrels vs -1.809m barrels expected Tesla deliveries 384k vs 387k expected Markets: Gold up $19 to $3358 U.S. 10-year Treasury yield up 3.6bps to 4.28% WTI crude up $1.95 to $67.40 S&P 500 up 0.5% CAD leads gains, GBP lags The dollar strengthened in European trading but gave it all back by the close. Initially some selling was triggered by weak ADP employment data, which raised concerns about Thursday's non-farm payrolls report. The selling continued after we finally reached a second U.S. trade deal, this time with Vietnam. Trump wrote some terms, but the details should have been released by now, but we haven't gotten them yet. What we know so far suggests that Trump will get his way on trade. This will not be a "reciprocal" deal at all, but will allow the US to impose 20% tariffs while Vietnam will further open up its market. On the surface, this should not be bad for the dollar, but there are rumors that this may be a template, and the market may see this as a problematic position for the larger US trading partners. Meanwhile, the market is also watching the details of the US budget. A series of votes were expected today, but have been delayed so far due to the last-ditch stance of fiscal hawks in the House of Representatives. Regardless, risk trading improved significantly, and oil got an additional boost due to a survey from the Dallas Fed showing plans for further reductions in US drilling rigs. Stocks opened flat but have moved steadily higher again. The UK gilt market is another big mystery in the market. Yields surged after the government abandoned plans to implement some austerity on the welfare system, coupled with some drama from Reeves at the Treasury, led to some fiscal concerns and caused the GBP/USD exchange rate to fall 130 points quickly. It has since recovered about half of those losses, but this is a story worth watching closely.