US Edition
Asian, European Markets Rally Ahead of US Jobs Data
Investors anticipate the Federal Reserve may lower interest rates after US private sector hiring slowed to 54,000 in August, influencing a global market rally.
- Markets in Asia and Europe gained ground on September 5 as investors awaited the US monthly employment data scheduled for later that day.
- This rally was driven by expectations of a weakening US labor market, which increased speculation that the Federal Reserve may soon reduce interest rates.
- European equities rose, long-dated bond yields and Japanese debt yields eased, and the S&P 500 hit a record high on September 4 despite slowing private sector hiring.
- Francesco Sandrini indicated that recent data supports the possibility of the Federal Reserve adopting a more accommodative approach, while Swissquote’s Ozkardeskaya suggested that oil prices are unlikely to fall below the $60-62 range.
- The market’s rally ahead of Friday’s payrolls report suggests investor confidence in a September Fed rate cut and anticipation of confirmation from US labor data.
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Weakening US Jobs, Higher Oil Supplies and French Vote - Action Forex
Sentiment among US equity investors improved yesterday after the ADP report for August came in weaker than expected, showing only 54K new private job additions versus around 73K expected by analysts, while initial jobless claims also printed a higher-than-expected figure. Separately, the ISM non-manufacturing data hinted at faster-than-expected expansion in services, with softer price pressures but a weakening employment component. Putting the p…
Coverage Details
Total News Sources26
Leaning Left3Leaning Right6Center9Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 17%
C 50%
R 33%
Factuality
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