This article has been translated from English to Gen Z Slang.
Markets were lit on Thursday, my dudes, after the U.S. dropped a jobs report that had everyone shook. The dollar went 🚀 while gold was like "I'm out," tumbling down as Fed rate cut dreams got crushed. 😬
Stocks were on a vibe, Treasuries hit new peaks, and Bitcoin was like, "Lemme do me" as it was cruising with steady gains. Meanwhile, oil was swinging back and forth on dollar flex and supply drama.
Peep these headlines you might've missed in the last trading sessions! 📈
Headlines:
- U.K. PM Starmer is hyped for Rachel Reeves to keep the Chancellor gig for a mad long time.
- Australia's trade vibes for May 2025 came in at 2.24B when everyone thought it'd be 5.2B. Major oops. 😅
- China Caixin Services PMI for June 2025 was kinda meh at 50.6 against a 51.3 forecast.
- BOJ member Takata is all like, "We ready to turn up the rates if the U.S. trade talks hit different">
- South Korea Prez Lee Jae Myung is struggling with "super tough" U.S. tariff negotiations, with a July 9 deadline. 😩
- Swiss consumer prices were up only 0.1% y/y when everyone expected -0.1% y/y.
- Germany's services PMI for June 2025 at 49.7 beat expectations. Let's gooo! 👀
- Euro area services PMI also popped off a bit at 50.5. 🔥
- U.K. S&P Global Services PMI was like "hold my beer" at 52.8. Epic!
- Canada's trade balance for May 2025: a gloomy -5.9B. Big yikes!
- U.S. trade balance for May 2025: -71.5B, missing the -72.0B forecast. Close enough, right? 😬
- U.S. Initial Jobless Claims for June 28, 2025, came in at 233.0k. Pretty lit compared to what everyone thought! 🎯
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U.S. June jobs reports:
- Nonfarm Payrolls hit up 147.0k - overachieving the 100.0k forecast!
- Unemployment Rate was at 4.1%, defying the haters. 🎉
- Hourly Earnings were 0.2% m/m, lowkey disappointing since forecast was higher. 😐
- Participation Rate was at 62.3%, just chilling where everyone expected.
- U.S. S&P Global Services PMI final went missing the forecast at 52.9.
- U.S. Factory Orders for May 2025 shot up by 8.2% m/m. 🔥
- U.S. ISM Services PMI came in clutch at 50.8, surprising everyone.
- U.S. Treasury Secretary Bessent hinted that around 100 countries might see tariff drama after July 9. 👀
Broad Market Price Action:
Dollar Index, Gold, S&P 500, Oil, U.S. 10-yr Yield, Bitcoin Overlay Chart by TradingView
Things went wild on the charts on Thursday 😂 after traders were hit with a massive U.S. jobs report. NFP numbers were all dramatic, making everyone think the Fed's not chillin' with rate cuts anytime soon.
Global equities took it easy. Dow was zoomin' up as folks were betting on solid economic vibes even if policy gets tighter later. Euro markets? Super moody, bouncing between their own vibes and the U.S. news. Treasury yields were like, "up we go," pushing to 4.35% as peeps locked in on the high rate scene.
Gold got torched, slipping from $2,360 to like $2,325 as the dollar flexed, and safe-haven wants took a back seat. WTI crude oil was a total drama queen, swinging between $66.50 and $67.50, hit by the strong dollar but then hyped on supply tea before the July 6 OPEC+ gossip session. Bitcoin was the MVP, rising from $109,200 to nearly $109,800, proving yet again it doesn't care about the usual market story. #CryptoVibes ✨
FX Market Behavior: U.S. Dollar vs. Majors:
Overlay of USD vs. Majors Chart by TradingView
The Greenback was flexin' early during the Asian hang, prob 'cause of those Vietnam deal rumors and dudes prepping for the big U.S. jobs tea. 🐸☕ In European trading, the dollar did a lil' backtrack with mixed PMI data—the vibe shifted thanks to Swiss CPI and Eurozone services juice.
But once those U.S. labor numbers hit... oh boy. 💥 The dollar hit a new level, telling everyone the Fed ain't in a hurry to slash rates. Europe's mixed signals were totally sidelined as peeps zeroed in on the growing U.S. vs. ECB gap.
The dollar stayed flexing through the U.S. session. It had some minor glitches, but it still ended boss across the board. The loonie was the lone wolf hanging tough. EUR/USD slipped despite earlier PMI love. USD/JPY soared as job stats overpowered safe feels. The pound was struggling, and even the Swiss franc couldn't keep up when faced with the hawkish Fed mood.
Upcoming Potential Catalysts on the Economic Calendar
- Swiss Unemployment Rate for June 2025 at 5:45 am GMT
- Germany Factory Orders for May 2025 at 6:00 am GMT
- Germany HCOB Construction PMI for June 2025 at 7:30 am GMT
- Euro area HCOB Construction PMI for June 2025 at 7:30 am GMT
- Euro area ECB President Lagarde Speech at 7:30 am GMT
- U.K. S&P Global Construction PMI for June 2025 at 8:30 am GMT
- Euro area PPI for May 2025 at 9:00 am GMT
- Canada S&P Global Services PMI for June 2025 at 1:30 pm GMT
With U.S. markets chillin' for the holiday, our focus might flip to those mid-tier Euro stats and any trader tweaks to Fed rate cuts post-Thursday's job frenzy. 🚀
Keep your euro setups in check and watch for chart signals hinting at end-of-week drama. Things could turn up with less action on the floor! 📉
Like always, stay agile and don't forget to peep our Forex Correlation Calculator when jumping into trades! ✌️
