In a post published on Truth Social on Wednesday (04/06), United States President Donald Trump called on Federal Reserve (Fed) Chairman Jerome Powell to cut policy interest rates.
"ADP NUMBERS ARE OUT!!! "Too late" Powell must now LOWER RATES. He's been great!!! Europe has cut NINE TIMES," Trump said.
Earlier in the day, data published by Automatic Data Processing (ADP) showed that private sector payrolls rose by just 37,000 in May, marking the lowest reading since March 2023. This reading missed market expectations of 115,000 by a wide margin.
Market reaction
The US Dollar (USD) remained under bearish pressure early in the American session. At the time of writing, the USD Index was down 0.25% on the day at 99.00.(alg)
Source: FXstreet
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