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Swiss Franc Weakens After Stronger US Jobs Data
The Swiss Franc declined against the US Dollar on Friday following a stronger-than-expected US Nonfarm Payrolls report. USD/CHF rose to a two-month high near 0.7955.
Wage Gains Bolster Case for BOJ June Hike – Deutsche Bank
Deutsche Bank analysts note that rising Japanese wages and resilient household spending strengthen the case for Bank of Japan tightening, with futures pricing a high probability of a June rate hike.
Indonesia Rupiah and Korean Won Under Renewed Pressure – BNY
BNY’s Bob Savage highlights renewed stress in emerging Asian FX, with Indonesia’s rupiah weakening past 18,000 and the Korean won under pressure despite a strong current account.
GBP/USD Breaks Below 1.3400 After Strong US NFP
The British pound fell below 1.3400 against the dollar after a better-than-expected US Nonfarm Payrolls report boosted the greenback. The data suggests the US economy may be running hot, reducing the case for Federal Reserve rate cuts.
RBI Holds Repo Rate at 5.25%, Supports INR Outlook: Societe Generale
Societe Generale analysts say the RBI's decision to keep the repo rate unchanged at 5.25% with a neutral stance supports the INR outlook, despite a cut in GDP growth forecast and an upward revision to CPI inflation.
Fed's Hammack Says Holding Rates Steady Remains Reasonable
Cleveland Fed President Beth Hammack stated on Friday that keeping interest rates steady is reasonable for now, but warned that persistent economic trends may soon require action.
Silver Tumbles Below $69 After Strong US Jobs Report Boosts Dollar
Silver (XAG/USD) fell sharply on Friday, dropping below $69 after a stronger-than-expected US employment report strengthened the US Dollar and fueled expectations of a more restrictive Federal Reserve.
Euro Slips to Two-Month Low After Strong US Jobs Data
EUR/USD fell to a two-month low near 1.1559 as the US Dollar rallied following a stronger-than-expected Nonfarm Payrolls report.
ECB Hiking Cycle May Extend to 3% – Nordea
Nordea analyst Kristian Nummelin expects the European Central Bank to raise rates next week, citing elevated inflation and strong core momentum. Markets are pricing a similar extension of the hiking cycle to 3%.
TD Securities Expects ECB to Raise Deposit Rate to 2.25%
TD Securities forecasts that the European Central Bank will hike its deposit rate to 2.25% in response to persistent high energy costs.
US May Non-Farm Payrolls Soar to 172K, Far Above 85K Forecast
The US added 172,000 jobs in May, well above the 85,000 expected, while the unemployment rate stayed at 4.3%. The strong report is adding to market pressures.
AUD/USD Slides After Strong US NFP Report
The Australian dollar retreated against the US dollar on Friday after a stronger-than-expected US jobs report boosted the greenback, pushing AUD/USD to around 0.7105, down 0.39%.
USD/JPY Hovers Near 160.00 After Upbeat US Jobs Report
USD/JPY traded near 160.00 on Friday, virtually unchanged on the day, after rebounding from intraday lows following a strong US jobs report. The level is closely watched as intervention territory.
Euro Slips Against Pound After Eurozone Growth Revision
The euro fell against the British pound on Friday following a downward revision to Eurozone GDP data, which raised concerns about the region's economic recovery. EUR/GBP traded near 0.8642, pulling back from recent gains.
RBI Holds Repo Rate at 5.25%, Takes Steps to Defend Indian Rupee
The Reserve Bank of India kept the repo rate unchanged at 5.25% with a neutral stance and announced measures to support the rupee and attract foreign investment.
US Nonfarm Payrolls Rise 172K in May, Beating Expectations
The US added 172,000 jobs in May, well above the 85,000 consensus forecast.
Nordea: Structural Headwinds for USD After Recent Strength
Nordea analyst Kristian Nummelin highlights that strong U.S. data and higher energy prices have recently buoyed the dollar, but structural headwinds are expected to weigh on it going forward.
ECB to Begin Recalibration Phase with June Rate Hike – Nomura
Nomura analysts expect the European Central Bank to start a recalibration phase at its June 11 meeting with a 25 basis point hike to the deposit rate.
BNY: Japan Aims to Strengthen Yen via Policy Support, Intervention Risk High
BNY's Bob Savage notes Japan's government targets a stronger yen through long-term competitiveness, with USD/JPY near 160 and authorities signaling potential intervention or rate hikes if inflation risks rise.
Canadian Dollar Recovers from Two-Month Low Ahead of Jobs Data
The Canadian Dollar pared losses against the US Dollar on Friday, with USD/CAD trading at 1.3880 after hitting a two-month high of 1.3925 earlier. Markets await US and Canadian jobs data.
Gold Steadies as Traders Await US NFP for Fed Clues
Gold (XAU/USD) recovers some of its earlier losses as markets focus on the upcoming US Nonfarm Payrolls report, which could influence the Federal Reserve's next policy move.
New Zealand Dollar Strengthens on RBNZ Rate Hike Expectations
The New Zealand Dollar (NZD) rose against the US Dollar on Friday as traders priced in earlier and larger rate hikes from the Reserve Bank of New Zealand.
TD Securities forecasts softer Canada jobs data, reinforcing dovish BoC view
TD Securities expects Canada's May employment to rise by only 5,000, well below the consensus estimate of 10,000, after a loss of 18,000 in April. The unemployment rate is seen steady, adding to the case for a dovish Bank of Canada.
Silver Recovers Half of Early Losses but Still Down Ahead of US NFP Data
Silver (XAG/USD) clawed back half of its early losses on Friday, trading 1.7% lower near $72.60 ahead of the US Nonfarm Payrolls data release.