US Dollar weakens on poor jobs data, ECB rate cut expected, possible Euro strength

From Investing.com: 2025-06-05 05:42:00

The US dollar weakened against major currencies as ADP and ISM data fell short of estimates. Investors predict a 55bps Fed cut by 2025 despite NFP anticipation. The Bank of Canada holds rates steady but hints at a possible further cut due to economic impact of tariffs. The ECB is expected to deliver a dovish rate cut, potentially causing the euro to retreat. Weak job data and trade uncertainty may continue to weigh on the dollar. President Trump’s tough stance on China adds to market uncertainty. Euro may strengthen depending on ECB’s decision and Lagarde’s remarks.



Read more at Investing.com: US Dollar Slips on Weak Jobs Data as ECB Prepares for Rate Cut