Stocks and dollar dip as US data looms
Global markets hit a rare lull on Thursday ahead of U.S. jobs data at the end of the week that could easily whip up cross-asset storms.
Europe’s broad STOXX 600 (.STOXX) share index dipped 0.56% although there was little movement from either the dollar /FRX or in bond markets, where recessionary warnings have grown louder. /US
U.S. Federal Reserve chief Jerome Powell had stuck to his message of higher and potentially faster interest rate hikes during a hearing on Wednesday, but also said the decision would hinge on incoming data.
It means traders will be looking even more intently at U.S. payrolls data on Friday and then U.S. inflation numbers that follow on Tuesday.
Financial markets are pricing in a near 80% likelihood of a 50 basis point rate hike at the Fed’s March meeting, according to the CME’s Fedwatch tool, up from about 30% at the start of the week. There is also a growing expectation the U.S. central bank could push rates to 6%.
This report’s information was first seen on REUTERS; to read more, click this link.
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