Dollar not so mighty, job claims rising, Trump has envelopes ready.
The dollar was hit by Trump’s reminder about bespoke tariffs coming soon, whilst rising job claims raise alarms about the strength of the economy.
NAB Morning Call · NAB - The Morning Call
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Friday 13th June 2025
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Producer prices in the US, just like CPI, seem to have had very little impact from tariffs so far. But jobless claims are rising. NAB’s ray Attrill says the continuing claims are similar to recession levels. All the more reason for the Fed to cut rates - but not the 2% that President Trump is now looking for. Meanwhile the President has reminded everyone that he is serious about tariffs, with envelopes ready to send to trading partners with their own bespoke tariff. That helped push the US dollar down to a two-year low. Trade and tariffs will undoubtedly be talked about at the G7 summit that kicks off this weekend in Alberta, Canada.
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