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Amazon’s reported work on software to use human-like robots in package delivery represents the next chapter in the company’s lucrative automation strategy.

It’s tragic that we’ve gone backwards in aviation in some ways in the past 30 years. The Concorde was a symbol of progress and it would be wonderful if I live to see the return of supersonic commercial aviation.

The fastest trip the plane did from New York to London was 2 hours and 52 minutes.

At supersonic speeds, a flight from New York to LA could take as little as two hours. There has been some progress — like the X-59 — in reducing the (very problematic) sonic boom.

This article was written by Adam Button at www.forexlive.com.

FuelCell Energy came out with a quarterly loss of $1.79 per share versus the Zacks Consensus Estimate of a loss of $1.51. This compares to loss of $2.10 per share a year ago. These figures are adjusted for non-recurring items.

Like a thief in the night, Silver prices broke through $35/oz. Last time Silver broke this range, it took roughly 6 weeks to trade $50/oz, TDS’ Senior Commodity Strategist Daniel Ghali notes.

The major currency pairs, EUR/USD and USD/JPY, are showing restrained movement as markets await the release of key US employment data. Investors remain cautious, assessing the outlook for monetary policy in light of recent central bank decisions. Today, market participants will focus on the release of the monthly US Nonfarm Payrolls (NFP) report. According to […]

The post Euro Strengthens, Yen Consolidates Ahead of Nonfarm Payrolls Report appeared first on Action Forex.

This is the first hint at a timeline for China-US talks, and it’s a rapid one. That’s a good sign that both sides are aiming for some kind of deal before long.

But let’s hope that Navarro isn’t invited because that’s not the guy to make a deal with China.

This article was written by Adam Button at www.forexlive.com.

CIBC economists dug through today’s Canadian employment report and see a jobs market that continuing to gradually weaken. The country added 8.8K compares compared to a -12.5K consensus but unemployment ticked up to 7.0% from 6.9%.

“Trade sensitive areas such as
manufacturing and transportation & warehousing unsurprisingly showed weakness, but for now that is being offset by
job growth in other areas,” CIBC writes.

If that continues — which they expect — they envision a BOC rate cut in July.

“Today’s data suggest that while the economy isn’t yet contracting, it also isn’t living up to its
long-run potential resulting in a continued drift higher in the unemployment rate. We expect that the gradual rise in
joblessness will continue into the second half of the year, with positive developments regarding US tariffs and some
further interest rate cuts from the Bank of Canada required to help stabilise conditions before year-end and bring a
reduction in the unemployment rate again in 2026,” CIBC writes.

Notably, Lululemon today was surprisingly upbeat on the Canadian consumer.

Meanwhile, Toronto’s unemployment rate hit 9% in May, which is the highest since 2012 (ex-covid).

h/t @BenRabidoux

This article was written by Adam Button at www.forexlive.com.

• Prior was +177K (revised to +147K)
• Two-month net revision: -95K versus -58K prior
• Unemployment rate: 4.2% versus 4.2% expected
• Prior unemployment rate: 4.2%
• Unrounded unemployment rate: 4.244% versus 4.1872% prior –highest unrounded print since October 2021
• Participation rate: 62.4% versus 62.6% prior
• Average hourly earnings (m/m): +0.4% versus +0.3% expected and +0.2% prior
• Average hourly earnings (y/y): +3.9% versus +3.7% expected and +3.8% prior
• Average weekly hours: versus 34.3 expected and 34.3 prior
• Change in private payrolls: +140K versus +120K expected and +167K prior (revised to +146K)
• Change in manufacturing payrolls: versus -5K expected and -1K prior
• Government jobs: -1K versus +10K prior
• Full-time jobs: -623K versus +305K prior
• Part-time jobs: versus +33K +56K prior
• Household survey -696K vs +436K prior

USD/JPY was trading at 144.26 just ahead of the data and the market was pricing in 80 bps in easing in the year ahead, which is at 79 bps afterwards.

There was a slight hawkish reaction to the data which I would classify more as a ‘sigh of relief’ that jobs were better than ADP. With the revisions, it was slightly less than expected and also note falling labor force participation; if not for that the unemployment rate would have risen further. There is also an argument that the revisions tell you more about the economy than the headlines, and the revisions weren’t great for the second month, the household survey was also poor (though it’s volatile).

Note the composition as well:

• Healthcare: +62,000 jobs (hospitals +30,000, ambulatory care +29,000, nursing facilities +6,000).

• Leisure & hospitality: +48,000 jobs (mostly food/drinking places +30,000).

• Social assistance: +16,000 jobs.

• Federal government: -22,000 jobs (down 59,000 since January).

The government job losses are a solid sign that the private sector is doing better but healtcare is government-adjacent and the rest of the jobs aren’t high quality.

This article was written by Adam Button at www.forexlive.com.

Gemini, the crypto exchange founded by Cameron and Tyler Winklevoss, has confidentially filed for a U.S. IPO.

Treasury Secretary Scott Bessent and others will meet with their Chinese counterparts in London on Monday for renewed trade talks, President Donald Trump said.