Published: 2025-06-10T19:48:23.000Z
North American Summary and Highlights 10 Jun
Senior Economist , North America
6
Overview - Weak labor market data hit the GDP though EUR was generally firm and the USD mixed.
European and North American sessions
Weak UK labor market data hit the GBP in Europe, with a 109k decline in payrolled employees in May. EUR/GBP advanced to .8460 from .8425 and sustained its gains in North America, though a fall in GBP/USD to 1,3460 from 1.3540 was mostly reversed as EUR/USD advanced to near 1.1450 after dipping below 1.14. EUR/USD subsequently corrected to 1.1430 and GBP/USD to near 1.35.
After slipping below 144.40 USD/JPY recovered to near 145 as UST yields reversed earlier slippage, supported by hopes of progress in the US-China trade talks. The one US data release was May’s NFIB small business optimism index seeing its first rise since December. AUD and CAD picked up versus the USD during the EUR/USD advance but ended the day with only marginal gains.