Holly Thompson
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Risk-off ahead of the US job report
Global equities fell as bond yields and the US dollar weakened on mixed economic date from the US, Europe, and China. The S&P 500 dropped 2.6%, marking its first decline in over a month. The Bank of Canada cut its policy rate to 4.25%, citing economic concerns.
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Dollar slips ahead of pivotal NFPs, Waller speech
Ambiguous data ahead of job report. French PM announcement soothes investors. US data to decide the pound’s fate.
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Dollar softens further ahead ADP, initial claims
Dollar hit by weakening labor market. Euro recovers on soft US JOLTS. The BoC cuts rates third time in a row.
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Markets consolidate before a big week
Equities fell after Nvidia’s revenue forecast missed expectations, while a rebounding dollar tempered risk appetite. Markets expect Fed rate cuts, driving the dollar towards its worst monthly drop since November.
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Dollar momentum softens approaching PCE release
Dollar poised for worst month of 2024. Pound comfortable, but tests loom. Eurozone inflation drops to 3-year low.
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Market action muted ahead of initial claims print
Dollar finds some respite. Pound holds its grip on key levels. Euro extends week’s losses.