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Market Moving News
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| Intra-day Market Moving News |
| 6 Jun 2025 |
13:41 |
USD/MAJORS... LSEG news, US President Trump says :
- Powell should cut rates
- go for a full point
LSEG then reported U.S. President Donald Trump on Friday called on the Federal Reserve to cut interest rates by a full point.
"'Too Late' at the Fed is a disaster! Europe has had 10 rate cuts, we have had none. Despite him, our Country is doing great. Go for a full point, Rocket Fuel!" Trump said in a post on Truth Social.
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| 6 Jun 2025 |
12:59 |
USD/MAJORS... LSEG reported the planned meeting between U.S. and Chinese official on trade is expected to take place within seven days, White House trade adviser Peter Navarro said on Friday, a day after President Donald Trump and his Chinese counterpart Xi Jinping spoke.
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| 6 Jun 2025 |
12:58 |
EUR/USD - 1.1400... LSEG reported U.S. tariff policy could cost Germany 90,000 jobs within a year, the country's labour office head told Sueddeutsche Zeitung newspaper in an interview released on Friday.
Federal Employment Agency chief Andrea Nahles was citing the Institute for Employment Research (IAB) and other institutes, which conducted research on the effect of a 25% tariff rate.
"The problem is this lack of predictability, which is doing us massive damage - it prevents companies from investing, hiring and training people," Nahles told the newspaper.
"The erratic trade policy of the USA is a burden on the German labour market."
Last month, unemployment in Europe's largest economy rose at a faster pace than expected, with the number of people out of work approaching the 3 million mark for the first time in a decade.
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| 6 Jun 2025 |
12:51 |
USD/MAJORS... LSEG reported Federal Reserve policymakers has little reason to rush on rate cuts, traders bet Friday, after a government report showed the labor market is cooling but is far from collapsing.
With the unemployment rate steady at 4.2% and job growth slowing to a gain of 139,000 last month, Fed policymakers are seeing as waiting until September to cut rates, with just one more cut in view by December, based on trading in short-term interest-rate futures, which also showed traders backing away from bets that would pay off if the Fed delivered a third rate cut by year's end.
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| 6 Jun 2025 |
12:33 |
USD/MAJORS... LSEG reported U.S. job growth slowed in May amid headwinds from tariff uncertainty, while the unemployment rate held steady at 4.2%, potentially giving the Federal Reserve cover to delay resuming interest rate cuts for a while.
Nonfarm payrolls increased by 139,000 jobs last month after rising by a downwardly revised 147,000 in April, the Labor Department's Bureau of Labor Statistics said in its closely watched employment report on Friday.
Economists polled by Reuters had forecast 130,000 jobs added after a previously reported 177,000 rise in April. Estimates ranged from 75,000 to 190,000 jobs. The unemployment rate remained at 4.2% for the third straight month.
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| 6 Jun 2025 |
12:31 |
USDCAD - 1.3674... LSEG reported Canada's unemployment rate in May jumped to its highest level in almost nine years outside of the pandemic era with 1.6 million jobless people in the country amid a constrained labor market, data showed on Friday.
The unemployment rate ticked up to 7% in May from 6.9% in April, a third consecutive monthly increase, Statistics Canada said, adding that the total jobless people in May were almost 14% higher than what was seen a year ago.
This was primarily driven by an almost flat employment growth amid a rising population, even though there were no major mass layoffs.
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| 6 Jun 2025 |
09:34 |
EUR/USD - 1.1415... LSEG reported European Central Bank policymaker Robert Holzmann, the lone dissenter when the Governing Council cut interest rates on Thursday, believes rates are now in expansive territory, he said on Friday.
Holzmann told a news conference that while ECB President Christine Lagarde said on Thursday the central bank was getting to the end of the monetary cycle, he wanted to discuss whether that was in fact the case, adding that he believes the so-called neutral rate is currently around 3% in nominal terms.
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| 6 Jun 2025 |
09:33 |
EUR/USD - 1.1415... LSEG reported German Chancellor Friedrich Merz said on Friday that he had "absolutely no doubt" that U.S. President Donald Trump would keep the United States within the NATO military alliance.
"I have absolutely no doubt that the American government is sticking with NATO," Merz said in a speech at an entrepreneurs' event just hours after returning from his inaugural trip to Washington.
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| 6 Jun 2025 |
08:55 |
EUR/USD - 1.1415... LSEG news, German Chancellor Merz says :
- this US administration is open for discussions, hear other opinions
- you must speak with Trump, not about him
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| 6 Jun 2025 |
08:44 |
EUR/USD - 1.1423... LSEG news, ECB's Holzmann says :
- lowering rates at a time of high savings and low investments has no effect except a monetary effect
- I didn't affect the outcome of the Governing Council meeting with my lone vote
- we are currently expansive in our monetary policy
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| 6 Jun 2025 |
06:20 |
EUR/USD- 1.1426... LSEG reported German exports fell by 1.7% in April compared with the previous month, data from the federal statistics office showed on Friday.
The result compared with a 0.7% decrease forecast in a Reuters poll.
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| 6 Jun 2025 |
06:18 |
Continues from previous update...
Kazaks also supported a possible pause but warned against making any firm commitment - of "forward guidance" in central bank parlance - given an ever-changing political landscape.
"We don't get much data between now and the July meeting so it may well be the case that we pause," Kazaks said. "But uncertainty remains very high, the political situation may change every day. So forward guidance isn't your friend in these circumstances."
Even if the ECB were to cut rates further, this would amount to small, "fine-tuning" moves for as long as inflation was projected to stay at 2% over the medium term, Kazaks said.
"In terms of the rate cutting, we've done a lot," he said. "If there are further cuts, they will be fine-tuning, unless we shift out of the baseline scenario."
The ECB published new projections on Thursday that see inflation at 2% this year, 1.6% in 2026 and 2% in 2027.
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| 6 Jun 2025 |
06:17 |
EUR/USD - 1.1433... LSEG reported the European Central Bank should stop cutting interest rates at every meeting and instead keep its powder dry given an uncertain economic outlook, ECB policymaker Martins Kazaks told Reuters.
The ECB cut rates for the seventh time in a row on Thursday to prop up a euro zone economy that was struggling even before erratic U.S. economic and trade policies dealt it further blows.
Kazaks called time on that year-long easing cycle, saying the ECB should keep "policy space" to cut rates again at a later date if needed.
"I don't think the market should expect the trajectory of cutting rates at every meeting to continue," he said in a phone interview. "There is no need and there is value in maintaining policy space."
Most ECB policymakers back keeping interest rates, now at 2%, on hold at their next gathering in July, or possibly longer, depending in part on the prospects for trade with the United States, sources told Reuters.
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| 5 Jun 2025 |
16:43 |
USD/MAJORS... LSEG reported U.S. President Donald Trump on Thursday said trade talks with China remained on track and were in good shape, adding that he expected to go to China at some point.
Trump, speaking to reporters after a phone call with Chinese President Xi Jinping, said he expected Xi to visit the United States as well.
He said U.S. Trade Representative Jamieson Greer, Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick would meet with top Chinese officials.
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| 5 Jun 2025 |
16:42 |
Continues from previous update...
While trade and other policy changes from the Trump administration may increase the jobless rate from its current 4.2% level, she said, so far the labor market looks stable. April spending data and many surveys -- including the Fed's own Beige Book, published on Wednesday -- show a softening in economic activity, she said, but "not yet a significant slowdown."
The inflationary effects of tariffs, on the other hand, are already evident in a reversal of core goods inflation, and research shows not only that tariffs have already added to overall price increases but are likely to continue to do so, and relatively quickly. Meanwhile short-term inflation expectations have increased, and though most readings of long-term inflation expectations have remained stable, she said she is closely monitoring the jump in the University of Michigan survey.
"I view our current stance of monetary policy as well-positioned for any changes in the macroeconomic environment," she said.
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