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Traders and economists expect the NFP report to show that the US created 185K net new jobs, with average hourly earnings rising 0.3% m/m (3.9% y/y) and the U3 unemployment rate holding steady at 3.9%. After a blistering start to the year, the US economy has seemingly downshifted in Q2 based on recent data. That said, the key indicators the Federal Reserve ...
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They did it. As analysed here, the European Central Bank cut interest rates by 25bp, bringing the deposit rate down to 3.75%. This did not come as a surprise and was indeed one of the best-telegraphed moves in monetary policy history, so the main question was whether the ECB would give any forward guidance on what is next. The short answer is ‘they didn’t’. ...
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