Rabobank strategist Michael Every highlights how Fed Chair Warsh and other major central bankers at Sintra are signalling a structural shift away from traditional forward guidance towards data-driven “framework guidance.” Every stresses that evolving AI, new inflation measures and reduced public tou
Societe Generale’s Dev Ashish argues that the US decision to opt for annual USMCA reviews instead of a 16-year extension prolongs policy uncertainty for Mexico while leaving near-term trade flows intact.
Commerzbank’s Bernd Weidensteiner highlights that US nonfarm payrolls rose only 57,000 in June, far below consensus, with prior months revised down by 74,000. Monthly job growth has been slowing and the six-month average is expected to turn lower.
TradingKey - Impactado pelo feriado do Dia da Independência dos EUA, o relatório de folhas de pagamento não agrícolas (non-farm payrolls) de junho, originalmente agendado para divulgação na sexta-feir
ING strategists Benjamin Schroeder and Michiel Tukker discuss how a potential increase in the Minimum Reserve Requirement (MRR) by the ECB could tighten Eurozone liquidity and reduce ECB losses.
While speaking at a Banco de España conference in Santander, Spain, San Francisco Federal Reserve President Mary Daly said that she doesn't see any signs of a lack of economic resiliency in the US, despite above-target inflation, per Reuters.
Commerzbank’s Dr. Ralph Solveen reviews Germany’s new reform package agreed by CDU/CSU and SPD, focusing on bureaucracy reduction, labor market changes, and modest tax adjustments.
According to a report from the US Department of Labour (DOL) released on Thursday, the number of US citizens submitting new applications for unemployment insurance shrank to 215K for the week ending June 27.
MUFG’s Lee Hardman notes that softer Euro-zone inflation has pushed EUR/USD below support at 1.1400, with yields falling and markets less confident of another ECB rate hike. The ECB’s “milder” scenario now looks more likely, reducing pressure to tighten further.
Frantisek Taborsky at ING notes diverging PMI signals in Central Europe, with strong Czech sentiment and weaker Poland, but still expects Polish growth above 3% in 2026. Softer Polish inflation and a potentially dovish National Bank of Poland outlook are reflected in modest rate-cut pricing.
UOB strategist Quek Ser Leang highlights a constructive technical backdrop for the US Dollar Index (DXY), noting similarities with the 2021 and 2025 basing phases.
TD Securities’ Prashant Newnaha expects the Reserve Bank of New Zealand (RBNZ) to raise the Official Cash Rate (OCR) by 25bps to 2.50% at next week’s meeting, keeping policy too accommodative with the cash rate still below neutral.
When asked about the sudden spike in the Japanese Yen (JPY), Japan’s Finance Ministry declined to comment, per Reuters.
EUR/CAD rises after two days of losses, trading around 1.6200 during the European hours on Thursday. The pair remains stronger as the Euro (EUR) holds ground following the release of the Eurozone Unemployment Rate, which came in at 6.2% in May, against the 6.3% expected.