Well, aren’t markets just loving the chaos these days? If you thought last week’s jobs report was going to fade into the background, you clearly missed the memo on how 2025 is shaping up.
This week has been all about trying to make sense of that unexpected loss of 73,000 jobs, while Trump turned up the volume on his tariff antics. Monday’s rebound had traders clinging to the “bad news is good news” mindset, hoping the Fed might step in with a rate cut as a silver lining.
And the show didn’t stop there. Trump kept throwing tariff threats India’s way and held tight to Switzerland’s 39% levy, ignoring diplomatic pleas. The ISM Services PMI slid down to 50.1, joining the grim economic news parade. The suspense of Thursday’s Bank of England 5-4 rate cut vote kept everyone on edge, and Canada’s surprise jobs data on Friday reminded us that shocks are truly global.
Here’s the scoop on how each major currency managed to make it through this week’s whirlwind.
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