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Market Moving News
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| Intra-day Market Moving News |
| 12 Mar 2025 |
07:45 |
USD/JPY - 148.44... LSEG news, BoJ's Governor Ueda says :
- very worried about uncertainty over overseas economy, prices
- underlying inflation still remains below 2%
- BoJ ready to conduct bond-buying operation nimbly in exceptional cases when long-term rates make irregular moves
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| 10 Mar 2025 |
11:19 |
EUR/USD - 1.0854... LSEG reported Germany's Greens will not give their much-needed backing to debt reforms proposed by the conservatives and Social Democrats (SPD), the party's parliamentary co-leaders said on Monday.
"We will recommend to the members of the Green parliamentary group that they do not vote in favour of these amendments," said co-leader Katharina Droege at a news conference alongside Britta Hasselmann.
The conservatives and SPD, who are in talks to form a government after an election last month, need the Greens to reach the two-thirds majority needed in parliament to pass their plans to reform the debt brake and create a 500 billion euro fund for infrastructure.
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| 8 Mar 2025 |
04:52 |
USD/MAJORS... LSEG reported U.S. President Donald Trump raised the prospect of imposing large-scale U.S. sanctions on Russia on Friday, days after pausing military aid and intelligence support to Ukraine, and he called on both countries to get on with negotiating a peace deal.
Trump's threat of banking curbs and tariffs followed a Reuters report on Monday that the White House was preparing to give Russia possible sanctions relief as part of the push to end the war and improve diplomatic and economic ties with Moscow.
"Based on the fact that Russia is absolutely 'pounding' Ukraine on the battlefield right now, I am strongly considering large-scale Banking Sanctions, Sanctions, and Tariffs on Russia until a Cease Fire and FINAL SETTLEMENT AGREEMENT ON PEACE IS REACHED," Trump said on his social media platform.
"To Russia and Ukraine, get to the table right now, before it is too late. Thank you!!!"
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| 8 Mar 2025 |
04:51 |
Continues from previous update...
Supporters of the dot plot say it can make monetary policy more effective, noting that in the wake of the global financial crisis the Fed's dot plot underscored U.S. central bankers' expectation they would be keeping rates at zero for much longer than markets might have otherwise expected.
And, they note, it can be helpful as a rough directional guidepost, even if it -- as Fed policymakers and Powell himself often emphasize -- is not a promise or even an agreed-upon forecast, but rather a collection of sometimes disparate views on how the economy, and policy, will play out.
Historically, they have often proven poor yardsticks for actual Fed rate moves, in large part because the economic data turns out differently from what is expected by Fed policymakers and, often, economists more generally.
At the end of 2021, for instance, the dot plot pointed to an end-2022 policy rate of less than 1%. In fact, the central bank had raised rates to 4.25%-4.50%, a response to the realization that building inflation was not going to recede without an aggressive Fed rate-hike campaign.
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| 8 Mar 2025 |
04:50 |
USD/MAJORS... LSEG reported Federal Reserve Chair Jerome Powell on Friday signaled potential changes for the Fed's closely watched "dot plot" interest-rate projections as part of a broad policy framework review underway at the U.S. central bank and expected to wrap up by the end of summer.
"On the communications...particularly our post-meeting communications, we're going to take a close look at the SEP and also compare ourselves to what other central banks around the world do," Powell said at a research conference in New York, referring to the Fed's summary of economic projections.
That is the Fed's quarterly report on what each of its 19 policymakers expect for economic growth, the unemployment rate, inflation, and the Fed's own policy rate over the next several years.
Individual policy-rate projections are plotted as dots on page 4 of the report, published at the end of the Fed's rate setting meetings each March, June, September and December. Economists and financial markets use those dots as a guide to what the Fed sees as most likely to do on rates.
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| 6 Mar 2025 |
13:47 |
USD/MAJORS... LSEG reported the number of Americans filing new applications for unemployment benefits fell more than expected last week, suggesting that the labor market remained stable in February, though turbulence lies ahead from tariffs on imports and deep government spending cuts.
Initial claims for state unemployment benefits dropped 21,000 to a seasonally adjusted 221,000 for the week ended March 1, the Labor Department said on Thursday. Economists polled by Reuters had forecast 235,000 claims for the latest week.
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| 6 Mar 2025 |
13:45 |
Continues from previous update...
Germany's move this week to increase military and infrastructure spending, which could stoke fresh inflationary pressures, is likely to heighten those concerns.
On the flip-side, the euro zone economy may take a hit if the United States follows through with plans to slap "reciprocal tariffs" on every country that taxes U.S. imports.
With Thursday's cut, the ECB also lowered by 25 basis points the rates at which banks can borrow at its weekly and daily auctions, to 2.65% and 2.90% respectively.
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| 6 Mar 2025 |
13:44 |
EUR/USD - 1.0818... LSEG reported the European Central Bank cut interest rates for the sixth time in nine months on Thursday, sticking to its easing plan in the face of economic upheaval from an unfolding trade war and new plans to boost Europe's military spending.
With inflation closing in on its 2% target, the central bank for the euro zone lowered the rate it pays on bank deposits by 25 basis points to 2.5% a level it saw as "meaningfully less restrictive".
"Monetary policy is becoming meaningfully less restrictive, as the interest rate cuts are making new borrowing less expensive for firms and households and loan growth is picking up," the ECB said.
Thursday's cut was likely the last easy decision for ECB policymakers, with any move from next month onwards set to be subject to a more heated debate as inflation worries linger.
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| 6 Mar 2025 |
13:35 |
USD/MAJORS... LSEG reported U.S. job growth picked up in February and the unemployment rate edged up to 4.1%, but growing uncertainty over trade policy and deep federal government spending cuts could erode the labor market's resilience in the months ahead.
Nonfarm payrolls increased by 151,000 jobs last month after rising by a downwardly revised 125,000 in January, the Labor Department's Bureau of Labor Statistics said in its closely watched employment report on Friday.
Economists polled by Reuters had forecast payrolls advancing by 160,000 jobs after a previously reported 143,000 gain in January. Estimates ranged from 30,000 to 300,000 positions.
The rise in the unemployment rate was from 4.0% in January.
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| 6 Mar 2025 |
13:32 |
USD/CAD - 1.4344... LSEG reported Canada's economy gained a net 1,100 jobs in February, entirely in part-time work, and the jobless rate held at 6.6%, Statistics Canada data showed on Friday.
Employment in the goods producing sector fell by a net 19,500 jobs, largely in utilities. The services sector was up by a net 20,600 positions, led by wholesale and retail trade, as well as finance, insurance, real estate, rental and leasing.
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| 6 Mar 2025 |
09:41 |
GBP/USD - 1.2876... LSEG reported Britain's construction sector contracted sharply in February, with residential house-building declining at one the fastest rates since 2009 due to weak demand and high borrowing costs, according to a survey published on Thursday.
The preliminary reading of the S&P Global/CIPS UK Construction Purchasing Managers' Index fell to 44.6 last month from January's 48.1, its weakest level since May 2020 and below all forecasts in a Reuters poll of economists.
The all-sector PMI, which combines the services, manufacturing and construction sectors, fell to a 16-month low of 50.0 in February from 50.3 in January.
The construction PMI's gauge of housebuilding tumbled to 39.3 from 44.9 in January, one of the sharpest downturns on record, excluding the global financial crisis and the start of the COVID-19 pandemic.
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| 6 Mar 2025 |
00:39 |
USD/MAJORS... LSEG reported U.S. President Donald Trump said on Wednesday he was working with Republicans in the House of Representatives on a continuing resolution to fund the government until September.
"... I am working with the GREAT House Republicans on a Continuing Resolution to fund the Government until September to give us some needed time to work on our Agenda," Trump said in a post on social media.
"Conservatives will love this Bill, because it sets us up to cut Taxes and Spending in Reconciliation, all while effectively FREEZING Spending this year."
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| 5 Mar 2025 |
15:01 |
USD/MAJORS... LSEG reported U.S. services sector growth unexpectedly picked up in February and prices for inputs increased, which combined with a recent surge in the cost of raw materials at factories suggested that inflation could heat up in the months ahead.
Rising price pressures could be worsened by a trade war, triggered by President Donald Trump's new 25% tariffs on imports from Mexico and Canada, which took effect on Tuesday, along with a doubling of duties on Chinese goods to 20%.
The Institute for Supply Management (ISM) said on Wednesday its nonmanufacturing purchasing managers index (PMI) climbed to 53.5 last month from 52.8 in January. Economists polled by Reuters had forecast the services PMI dipping to 52.6.
A PMI reading above 50 indicates growth in the services sector, which accounts for more than two-thirds of the economy. The ISM associates a PMI reading above 49 over time with expansion in the overall economy.
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| 5 Mar 2025 |
09:01 |
EUR/USD - 1.0700... LSEG reported the euro zone economy trod water again last month as a weak expansion in the bloc's dominant services industry was overshadowed by a long-running downturn in manufacturing, a survey showed.
A PMI for the services sector dropped to a three-month low of 50.6 from 51.3. The downturn in manufacturing showed further signs of easing last month, its PMI released on Monday showed.
Suggesting it could be a while before the currency union sees a sharp uptick, overall demand fell at a faster rate. The composite new business subindex fell to 49.0 from 49.3.
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| 5 Mar 2025 |
09:00 |
EUR/USD - 1.0698... LSEG reported business activity in Germany's services sector grew for the third consecutive month in February, but the pace of expansion slowed due to subdued demand, S&P Global reported on Wednesday.
The final and seasonally adjusted HCOB index for business activity in the services sector stood at 51.1 in February, down from 52.5 in January. While a reading above 50 indicates growth, the drop suggests there was only a marginal increase in activity.
New orders fell again as tight budgets and production cuts among manufacturing clients weighed on demand. This marked the sixth consecutive month of declining orders, though the rate of decline was the smallest in the current contraction phase, partly due to a less pronounced drop in export orders
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