Tag: ADP payrolls
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Powell signals rate cuts as US jobs market cools
Powell signals potential for another rate cut as job market cools The US labor market is showing renewed signs of strain, and Federal Reserve Chair Jerome Powell signaled that the central bank could be ready to support another quarter-point cut to borrowing costs later this month. Speaking in Philadelphia, Powell noted that “the downside risks…
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Dollar Dips as Hiring Slows, Fed Rate-Cut Bets Grow in NY FX Market
Market snapshot: dollar slips as hiring data fuels Fed rate-cut bets The New York foreign exchange market saw the dollar retreat against the yen and the euro as fresh hiring data underscored a cooling U.S. labor market. Traders reassessed the path of monetary policy, leaning toward additional Federal Reserve rate cuts this year as softer…