US payroll benchmark
US job growth for the year ending March 2025 was significantly weaker than initially reported, with payrolls expected to be revised down by a record 911,000. This signals a prolonged period of modest growth and a weaker labor market, supporting the case for Federal Reserve rate cuts, according to BMO Capital Markets’ Sal Guatieri. Even the JP Morgan CEO Dimon also suggested that this data is weakening.
However, some also argued that the data is mainly based on unemployment insurance records, excluding the undocumented workers such as immigrations.
In short, the labor market is proven to be weak, and supports the FED Fund rate cut.
Israel-Qatar:
Despite Israeli channel 12 reported that Israel’s recent airstrike in Qatar was approved by President Donald Trump, Trump later clarified the decision was Netanyahu’s alone, not his, while signalling that he will give a full statement of Israel tomorrow.
Meanwhile, Qatar’s Interior Ministry reported one security force member killed during the strike, with others injured; it condemned the “cowardly” assault as a violation of sovereignty and international law, denying prior warnings and reserving the right to respond.
→ Some tension is rising from this attack, and the gold has not reached much.
Russia-Ukraine Update:
While a Russian airstrike brutally killed 24 elderly civilians on Tuesday, Russian drones also violated Polish airspace during strikes on Ukraine, leading Poland to scramble NATO warplanes, heighten air defenses, and close airports temporarily. Poland’s Prime Minister announced a border closure with Belarus starting Thursday due to aggressive Russia-Belarus “Zapad” military drills. In fact, President Karol Nawrocki believes that Vladimir Putin may be prepared to invade other nations
Court Blocks Trump’s Bid to Remove Fed Governor Lisa Cook
The U.S. judge temporarily halted Trump’s attempt to dismiss Federal Reserve Governor Lisa Cook, ruling he likely lacked sufficient cause based on unproven mortgage fraud allegations from a Trump ally—aka lack of evidence.
