Global Markets Brace for Critical September Amid Political and Economic Uncertainty
Markets showed cautious behavior as investors awaited a key U.S. jobs report, which could influence upcoming Federal Reserve rate decisions. Political uncertainties in Europe, weak manufacturing data from China, and a U.S. holiday contributed to thin trading. Chinese stocks and oil prices also experienced declines.
Global markets faced slight declines on Monday as investors prepared for a data-intensive week, climaxing with a U.S. jobs report that might influence the magnitude of a potential Federal Reserve rate cut. Manufacturing data from China revealed a drop in export orders, overshadowing the sector's return to growth.
European markets saw increased political uncertainty following wins by populist parties in Germany's state elections. Holiday closures in the U.S. and Canada resulted in low trading volumes. The STOXX 600 index fell by 0.35%, with Germany's DAX and Britain's FTSE 100 also seeing minor declines.
In currency markets, the dollar index dropped by 0.11% after hitting a two-week high, while the euro gained 0.23%. Investors exhibited caution as they awaited the Federal Reserve's interest rate decision cycle. Chinese stocks were down 1.7%, and oil prices slipped due to potential increased supply from OPEC+ in October.
(With inputs from agencies.)
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