Currency Market Wrap
As of Thu, Jun 6th, Singapore Time zone UTC+8
Dollar Index +0.23%, 97.29
USDJPY, +0.17%, $108.32
EURUSD, -0.21%, $1.1228
GBPUSD, -0.08%, $1.2687
USDCAD, +0.22%, $1.3422
AUDUSD, -0.31%, $0.6970
NZDUSD, +0.29%, $0.6626
The ADP Employment report showed an estimated 27,000 jobs were added to private-sector payrolls in May, well below the consensus estimate of 170,000 and the prior month’s downwardly revised 271,000 (from 275,000). The data suggest payroll gains in Friday’s jobs report in the Labor Department could be lower than expected, which might add to investor bets that the Fed will cut interest rates this year to shore up the economy. A recent string of weak reports on retail sales, factory orders and home purchases indicate growth is slowing as the trade war weighs on businesses.
The 2-yr yield finished four basis points lower at 1.84%, and the 10-yr yield finished unchanged at 2.12%. The U.S. Dollar Index advanced 0.23% to 97.29.
Stock Market Wrap
S&P500, +0.82%, 2,826.15
Nasdaq, +0.76%, 7,220.90
Nikkei Futures, +1.92%, 20,750.0
S&P 500 advanced 0.82% on Wednesday, benefiting from follow-through buying interest on hope that the Fed will cut rates amid a slowing growth environment.
Separately, notable movers in the stock market included Salesforce (CRM 158.44, +7.63, +5.1%) and Campbell Soup (CPB 41.93, +3.82, +10.0%), which pleased investors with their earnings reports.