EU: ECB cuts Interest Rate to 0.5% in May from 0.75%

May 2, 2013

US: Challenger Job Cuts at 38.121K in April

After coming in at 49.255K in March, Challenger Job Cuts eased to 38.121K in April.

Forex: EUR/JPY spikes both ways on ECB rate cut, at 128.00

The ECB interest rate decision was just announced and policymakers decided to cut the refi rate by 25bp to 0.50%, as expected. Draghi’s press conference is scheduled at 12:30 GMT. The EUR/JPY reacted with spikes in both ways, but having the 128.00 mark as epicenter.