European stocks decline ahead of the NFP report

European indices are on the defensive on Friday after president Trump announced more tariffs on the Chinese imports. Investors await the key US NFP report for July (1:30pm BST) with anticipation that the employment increased by around 160k. Too high number could limit the room for the Fed to cut rates while too low could suggest a slowdown in the US economy. The data will also be important for the EURUSD that is recovering after the Fed’s decision and is already testing 1.11.

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