Stock markets rally before US jobs data
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Stock markets rallied yesterday on easing trade war tensions and as markets looked ahead to key US jobs data. Awaiting US monthly employment figures, markets reacted to a report that the United States could delay its plan to hit Mexico with tariffs news thatStock markets rally before US jobs data
Stock markets rallied yesterday on easing trade war tensions and as markets looked ahead to key US jobs data. Awaiting US monthly employment figures, markets reacted to a report that the United States could delay its plan to hit Mexico with tariffs news that also helped lift Wall Street overnight. Stock markets also continued to win support from prospects of US interest rate cuts and ECB support for the eurozone. “The monthly United States non-farm payrolls release is always one of the highlights on the economic calendar but... (Friday’s) data will be viewed even more keenly than usual with speculation mounting that the Federal Reserve are set to begin cutting interest rates,” said David Cheetham, chief market analyst at XTB trading group. US stocks enjoyed a bounce on Thursday after Bloomberg News reported that Washington could push back its plan to impose tariffs on Mexico on June 10 to allow more time for talks on illegal immigration. Upbeat comments from Mexican Foreign Minister Marcelo Ebrard, who said the talks with United States officials had yielded progress, added to the positive mood. Export-dependent Mexico has been scrambling to stem the flow of Central American... Read more