UK Sheds Jobs but Pay Grows to 5.9% – Complicating BoE Rate Outlook

UK job losses accelerated in May by over 50,000 – the most since February 2021 while pay growth rose. The Bank of England meets next week to set interest rates

from DailyFX – Market News https://bit.ly/3VlLowI
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FOMC Preview: Dot Plot to Reveal Fewer Rate Cuts in 2024

Stubborn inflation and a robust labour market are likely to add to concerns FOMC members are having around cutting interest rates prematurely. Even growth is on track for a recovery

from DailyFX – Market News https://bit.ly/3XA9Mxt
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Gold and Silver Struggling to Push Higher, UST 2Yr Yields Remain Elevated

Gold and silver are trying to recover some of last Friday’s post-NFP heavy losses but further gains may be limited ahead of the latest look at US inflation and the FOMC policy decision.

from DailyFX – Market News https://bit.ly/3KzNILF
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Sterling Outlook: UK Jobs, Growth Data Considered in a Busy US-Focused Week

The UK job market has eased, unlike what we’ve seen in the US after last week’s NFP surprise. UK growth remains constrained but that has not impeded sterling gains

from DailyFX – Market News https://bit.ly/3ySFlbf
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Euro, CAC 40 Sink on French Snap Election Call; EUR/USD and EUR/GBP Latest

French President Emmanuel Macron called a snap election after his party suffered a heavy defeat to the far-right National Party at this weekend’s European elections.

from DailyFX – Market News https://bit.ly/3VB5R1Y
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