Five Things You Need to Know to Start Your Day: Europe
Get up to speed with what the markets are monitoring
Good morning. The dollar slips ahead of US jobs data. Oil’s set for a steep weekly decline. And Europe’s EV push may be misfiring. Here’s what people are talking about.
The dollar edged lower while US stock futures slipped as traders prepared for US jobs data that may determine the size of a Federal Reserve interest-rate cut this month. Asian equities were mixed ahead of the numbers, with the regional benchmark heading for a weekly loss, amid speculation traders are trimming some of their positions in advance of the key data. Forecasters anticipate the monthly report on US employment will show a bounce in hiring and a tick lower in the unemployment rate in August, marking a stabilization after the July data sparked a growth scare in financial markets. Investors are pricing in about 35 basis points of easing at the Fed’s next policy meeting on Sept. 17-18, suggesting they are uncertain as to whether the rate cut will be a quarter-point or half-point. Meanwhile, billionaire John Paulson said the Fed has waited too long to cut rates and expects it to lower them in the months ahead.