- Major indices close lower on the day/higher for the week
- Crude oil settles at $75.53
- US consumer credit for April rises by $6.40B versus $11.0B increase estimate
- With the Bank of Canada, ECB and jobs in the rear view mirror, the Fed is ahead
- ECB Pres. Lagarde: Still a long way to go until inflation is defeated
- Baker Hughes oil rigs -4 to 492 rigs
- J.P. Morgan changes first Fed rate cut to November from July
- Major European indices close the week little changed
- Atlanta Fed GDPNow growth estimate for Q2 rises to 3.1% versus 2.8% yesterday
- Nick Timiraos from WSJ: What does jobs report mean to Fed? Not much.
- Lael Brainard (NEC director): US jobs report is good news for American workers
- US wholesale inventories for April 0.1% versus 0.2% estimate
- Kickstart the FX trading day for June 7 w/a technical look at the EURUSD, USDJPY & GBPUSD
- US May non-farm payrolls 272K vs +185K expected
- Canada May employment change 26.7k vs 22.5k expected
- The JPY is the strongest and the NZD is the weakest as the NA session begins
- ForexLive European FX news wrap: ECB tries to justify rate cut, gold dips on China
- ECB's Centeno: The message is one of confidence in the disinflation process
- ECB's Villeroy: We will move at appropriate pace on rate cuts
- ECB's Holzmann: I was the only one against a rate cut
- ECB's Schnabel: We cannot pre-commit to a particular rate path
- ECB's Rehn: Inflation will continue to decline
- ECB's de Guindos: Inflation is to be around 2% next year
- ECB's Nagel: The decision to cut rates was not premature
The US jobs report came in stronger, but then again there was some ambiguous/less strong components.
- Non-farm payroll rose 272K vs 185K estimate.
- Private payrolls rose 229K vs 170K estimate
- Average hourly earnings rose 0.4% vs 0.3% expected
- Average earnings YoY rose 4.1% vs 3.9% expected
Those were the stronger-than-expected pieces of the report.
