Likely 2 rate cuts in 2025. One in Sept and December. MPACT is gaining strength, likely to rise up to test 1.23. A nice breakout smoothly plus good volume we may see her rising up further towards 1.28 and above.
Beyond 1.28, she may rise up to test 1.34 and above.
Pls dyodd.
Quote:
:The May jobs report's 139,000 rise in nonfarm payrolls was decent enough to deflate the chances an inflation-wary Fed will resume rate cuts this summer. But the labor market appears to be verging on a slump. The private sector added 140,000 positions. The federal government, in a hiring freeze, shed 22,000 jobs, which was mostly offset by state and local hiring. However, the prior two months' overall job gains were revised down by a combined 95,000. The separate household survey showed the jobless rate holding steady at 4.2%, but only because of the drop in labor force participants. Those working or looking for work dived by 625,000 – almost as much as the 696,000 plunge in the ranks of the employed. Fresher data shows jobless claims rising 8,000 to 247,000 in the last week of May, well above the sub-220,000 readings early this year.
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