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Forex Today: Tariffs and NFP should keep markets cautious
Forex Today: Tariffs and NFP should keep markets cautious
The US Dollar regain some composure and partially reversed the weekly correction ahead of the release of the key US labour market report and amid persistent uncertainty surrounding Trump’s trade policies.
NFP
Employment
DollarIndex
Currencies
EURUSD
Banxico cuts rates by 50 bps to 9.50% as expected
Banxico cuts rates by 50 bps to 9.50% as expected
The Banco de Mexico (Banxico) lowered interest rates by 50 basis points (bps) as expected by analysts, though the decision was not unanimous as Deputy Governor Jonathan Heath voted for a 25-bps rate cut.
USDMXN
Banxico
Mexico
InterestRate
Fed's Goolsbee: Uncertainty means Fed will hit a slower pace of cuts
Fed's Goolsbee: Uncertainty means Fed will hit a slower pace of cuts
Federal Reserve (Fed) Bank of Chicago President Austan Goolsbee noted on Thursday that while the Fed is on pace to achieve its inflation and employment targets, there is still some room to move on inflation before victory can be claimed.
Fed
CentralBanks
InterestRate
US Treasury Secretary Bessent: We aren't focused on whether the Fed will cut
US Treasury Secretary Bessent: We aren't focused on whether the Fed will cut
US Treasury Secretary Scott Bessent hit newswires on Thursday, touching on a variety of topics that suggest the President Donald Trump's administration will achieve both US Dollar (USD) strength and a general decline in Treasury yields at the same time.
UnitedStates
TradeWar
Fed
InterestRate
US Dollar picks up gains ahead of Nonfarm Payrolls
US Dollar picks up gains ahead of Nonfarm Payrolls
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against a basket of currencies, struggles to hold its recent gains, trading below 108.00 on Thursday.
DollarIndex
SEO
Currencies
Majors
TradeWar
Dow Jones Industrial Average backslides on weak tech sector
Dow Jones Industrial Average backslides on weak tech sector
The Dow Jones Industrial Average (DJIA) slid on Thursday, falling around 150 points to retest the 44,750 level.
DowJones
SEO
Equities
Canadian Dollar flatlines as markets await NFP
Canadian Dollar flatlines as markets await NFP
The Canadian Dollar (CAD) spun in a tight circle on Thursday, churning chart paper near 1.4300 against the US Dollar (USD) as markets gear up for another Nonfarm Payrolls (NFP) Friday.
USDCAD
SEO
Currencies
NFP
US dollar feels some fresh pressure
US dollar feels some fresh pressure
US dollar falls against the yen and the commodity currencies
Trump admin releases new santions on Iran
Trump admin releases new santions on Iran
Sanctions target shipping, oil and energy companies
German DAX stretches to record high
German DAX stretches to record high
Peace hopes in Ukraine add fuel to the rally
ukraine
Canada Ivey January PMI 47.1 vs 54.7 prior
Canada Ivey January PMI 47.1 vs 54.7 prior
Canada Ivey January manufacturing survey
Trump peace plan for Ukraine includes ceasefire by Easter
Trump peace plan for Ukraine includes ceasefire by Easter
The Ukraine press gets the leaked peace plan
ukraine
EUR/GBP rallies to near 0.8380 after BoE’s dovish interest rate decision
EUR/GBP rallies to near 0.8380 after BoE’s dovish interest rate decision
The EUR/GBP pair surges and posts a fresh weekly high to near 0.8380 in Thursday’s North American session.
EURGBP
ECB
BOE
InterestRate
Inflation
US: Initial Jobless Claims rose to 219K last week
US: Initial Jobless Claims rose to 219K last week
US citizens filing new applications for unemployment insurance rose to 219K for the week ending February 1, as reported by the US Department of Labor (DoL) on Thursday.
Employment
UnitedStates
EconomicIndicator
DollarIndex
US initial jobless claims 219K versus 213K estimate
US initial jobless claims 219K versus 213K estimate
US initial jobless claims and continuing claims for the current week
US Q4 unit labor costs prelim +3.0% vs +3.4% expected
US Q4 unit labor costs prelim +3.0% vs +3.4% expected
US fourth quarter 2024 unit labor cost and productivity data
BOE governor Bailey: We are currently not in a position to judge US policies
BOE governor Bailey: We are currently not in a position to judge US policies
Bailey says time needs to given to the US administration to form the policies it wants to form
ForexLive European FX news wrap: BOE cuts bank rate as expected but surprise Mann vote
ForexLive European FX news wrap: BOE cuts bank rate as expected but surprise Mann vote
Forex news from the European morning session on Feb 6, 2025
Session wrap
Wrap Europe
GBP/JPY dives to near 188.40 as all BoE members support 25-bps interest rate reduction
GBP/JPY dives to near 188.40 as all BoE members support 25-bps interest rate reduction
The GBP/JPY pair faces an intense sell-off and dives vertically to near 188.40 in Thursday’s North American session, the lowest level seen in two months.
GBPJPY
BOJ
BOE
Inflation
InterestRate
BOE governor Bailey: I don't use the word "stagflation"
BOE governor Bailey: I don't use the word "stagflation"
Bailey says "stagflation" doesn't have a precise meaning
Bailey speech: Government commitment to long-term structural reforms will help confidence
Bailey speech: Government commitment to long-term structural reforms will help confidence
Bank of England (BoE) Governor Andrew Bailey speaks on the policy outlook and responds to questions from the press following the decision to lower the policy rate by 25 basis points (bps) at the February meeting.
BOE
CentralBanks
Bailey speech: Consumers are more price conscious and holding back on spending
Bailey speech: Consumers are more price conscious and holding back on spending
Bank of England (BoE) Governor Andrew Bailey speaks on the policy outlook and responds to questions from the press following the decision to lower the policy rate by 25 basis points (bps) at the February meeting.
BOE
CentralBanks
Bailey speech: We expect to be able to cut bank rate further
Bailey speech: We expect to be able to cut bank rate further
Bank of England (BoE) Governor Andrew Bailey speaks on the policy outlook and responds to questions from the press following the decision to lower the policy rate by 25 basis points (bps) at the February meeting.
BOE
CentralBanks
US January Challenger layoffs 49.79k vs 38.79k prior
US January Challenger layoffs 49.79k vs 38.79k prior
Latest data released by Challenger, Gray & Christmas, Inc. - 6 February 2025
US Dollar turns flat in US session with markets a bit clueless on what to do next
US Dollar turns flat in US session with markets a bit clueless on what to do next
The US Dollar Index (DXY), which tracks the performance of the US Dollar against six major currencies, is starting to wobble at the end of Thursday's European trading session. The earlier pop came after comments from US President Donald Trump
DollarIndex
Macroeconomics
UnitedStates
SEO
BIT
BOE cuts bank rate by 25 bps to 4.50%, as expected
BOE cuts bank rate by 25 bps to 4.50%, as expected
The BOE announces its February 2025 monetary policy decision
GBP
BOE
Sterling heavy ahead of BOE decision
Sterling heavy ahead of BOE decision
The BOE is set to cut the bank rate by 25 bps to 4.50% in just a while
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