The focus now shifts to the US jobs report on Friday where markets will be hoping fpor a miss to continue to trends seen this week.
From Newsquawk
US JOBS REPORT (FRI): Analysts expect the pace of monthly payrolls to pick up a touch in May; the consensus expects 180k, according to Bloomberg, vs the prior 175k (vs the three- and six-month average of 242k, 12-month average of 234k)….
AT ALERTS – 15 MINUTE CHART ALERTS TODAY
Using a 0.25% risk and a 1.25 risk/reward
GVI forex 10:17 “market infused with interest rate cut excitement across the G7”
“Specific vulnerabilities may arise from the complexity and opacity of AI models; inadequate risk management frameworks to account for AI risks; and interconnections that emerge as many market participants rely on the same data and models,” she says.
Is there something new under the sun janet ?
EYE on yellen
Yellen’s prepared remarks highlight the risks posed by the use of AI in finance
A look at the day ahead in U.S. and global markets from Mike Dolan
Wall Street’s tech-led stock surge to new records has seen $3 trillion AI-champion Nvidia (NVDA.O), opens new tab replace Apple (AAPL.O), opens new tab as the world’s 2nd most valuable company in a market infused with interest rate cut excitement across the G7.
Morning Bid: New highs as Nvidia tops Apple, ECB and BoC easing
EURUSD 4 HOUR CHART-ECB TIME
This is one of the more telegraphed monetary policy decisions, a 25bp rate cut with no commitment to future cuts.
To keep this really simple, EURUSD should find support as long as it trades above 1.08.
Techncially, the upside will remain at risk as long as it trades above 1.0827.
Summary
ECB to cut deposit rate to 3.75% from 4.0%
Lagarde likely to stress no room for complacency
Recent data points to stronger growth, inflation
FRANKFURT, June 6 (Reuters) – The European Central Bank is all but certain to cut interest rates from record highs on Thursday and acknowledge it has made progress in its battle against high inflation, while also stressing the fight is not yet over given sticky services prices.
ECB to start cutting rates even as inflation fight continues
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