ECB’s Panetta signals diminished room for further rate cuts

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Italian ECB Governing Council member Fabio Panetta said today that while the central bank has made meaningful progress in easing monetary policy, bringing the deposit rate down from 4% to 2.25%, “the room for further rate cuts has naturally diminished”. “However, the economic outlook remains weak, and trade tensions could lead to a deterioration,” he […]

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Iran says Pres. Trump threat to destroy Iran’s nuclear facilities is a clear red line

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Iran says:

  • US Pres. Trumps threat to destroy Iran’s nuclear facilities is a clear red line.
  • It will have severe consequences.
  • Such threats are open hostility against Iran’s national interests
  • if US seeks a diplomatic solution, it must abandon the language of threats and sanctions

This article was written by Greg Michalowski at www.forexlive.com.

Global markets will brace for heavy economic data, central bank actions next week

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Markets will face a heavy load of high-impact economic data highlighed by the US and Canada jobs report on Friday, and central bank events next week. The Bank of Canada and European Central Bank are expected to cut rates next week.

Monday, June 2

  • 10:00am (US) – ISM Manufacturing PMI (Forecast: 49.3 | Prior: 48.7)

  • 1:00pm (US) – Fed Chair Powell Speaks

Tuesday, June 3

  • 2:30am (CHF) – CPI m/m (Forecast: 0.2% | Prior: 0.0%)

  • TBD (JPY) – BOJ Governor Ueda Speaks

  • 10:00am (US) – JOLTS Job Openings (Prior: 7.19M)

  • 9:30pm (AUD) – GDP q/q (Forecast: 0.4% | Prior: 0.6%)

Wednesday, June 4

  • 8:15am (US) – ADP Non-Farm Employment Change (Forecast: 110K | Prior: 62K)

  • 9:45am (CAD) – Bank of Canada Rate Statement

  • 9:45am (CAD) – Overnight Rate Decision (Forecast: 2.50% | Prior: 2.75%)

  • 10:00am (US) – ISM Services PMI (Forecast: 52.0 | Prior: 51.6)

  • 10:30am (CAD) – BoC Press Conference

Thursday, June 5

  • 8:15am (EUR) – ECB Main Refinancing Rate (Forecast: 2.15% | Prior: 2.40%)

  • 8:15am (EUR) – ECB Monetary Policy Statement

  • 8:30am (US) – Weekly Unemployment Claims (Forecast: 232K | Prior: 240K)

  • 8:45am (EUR) – ECB Press Conference

Friday, June 6

  • 8:30am (CAD) – Employment Change (Forecast: 7.4K)

  • 8:30am (CAD) – Unemployment Rate (Forecast: 6.9%)

  • 8:30am (US) – Average Hourly Earnings m/m (Forecast: 0.3% | Prior: 0.2%)

  • 8:30am (US) – Non-Farm Payrolls (Forecast: 130K | Prior: 177K)

  • 8:30am (US) – Unemployment Rate (Forecast: 4.2%)

This article was written by Greg Michalowski at www.forexlive.com.