Look ahead: NFP; eurozone jobless rate; Societe Generale; Credit Agricole; InterContinental
The mood of the markets will be dominated by the key US jobs report after the Fed signalled that a cut in interest rates would be depend on whether the US central bank has made significant progress in getting inflation down.
Look out for the latest eurozone jobless rate. Plus, French banks Societe General and Credit Agricole report. Holiday Inn-owner IHG issues its quarterly trading statement.
(AI Video Summary)
US non-farm payrolls
In the financial outlook for Friday, 3rd May, key highlights include the anticipation of non-farm payrolls in the US, with economists expecting an addition of 243,000 jobs and an unemployment rate steady at 3.8%. Early numbers show France's industrial production expected at 0.3% month-on-month with the eurozone unemployment rate predicted to remain at 6.5%. Currency movements are closely watched, with speculation on Central Bank rate cuts affecting the EUR/GBP exchange.
Fed interest rates and inflation stance
Market watchers are also keen on earnings reports from major European companies, including Intercontinental Hotels Group (IHG), which has shown a promising upward trend despite recent dips. Important to note are expectations for the Fed’s stance on inflation and interest rates, influencing the US dollar performance. Additionally, upcoming services PMI and oil rig counts in the US could impact commodity markets.
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