NFP News
Daily digest market movers: US Dollar down after an additional round of soft labor data, ECB.
The latest Challenger Job Cuts report for February revealed a sharp rise in layoffs, more than doubling compared to January.
Continuing Jobless Claims climbed to nearly 1.90 million, signaling challenges in the employment market despite Initial Jobless Claims dropping to 221,000.
The European Central Bank lowered its deposit rate by 25 basis points to 2.50 percent, aligning with market forecasts and keeping policy on a steady path.
The ECB raised its inflation outlook for 2025, fueling concerns that persistent price pressures could complicate future policy decisions.
Christine Lagarde emphasized the importance of a data-driven approach, stressing that the ECB must remain flexible in an increasingly volatile economic environment.
Regarding Fed expectations, the CME FedWatch Tool now shows a growing probability of a Federal Reserve rate cut in June, with expectations surpassing 85 percent.
