European and Global Markets Brace for U.S. Job Data

Global markets took a cautious stance following a week-long selloff in equities. Investors are nervous about the U.S. economy as job reports loom, potentially influencing the Fed's interest rate decisions. The yen gained as a safe asset, with Asian markets showing slight recovery. Eurozone data adds to the anticipation.

Global markets paused after a week-long selloff in equities, reflecting investor nervousness about the U.S. economy. The focus is on this week's job reports, which could affect the Federal Reserve's interest rate decisions.

U.S. labor data suggests a cooling job market, prompting expectations of large interest rate cuts in the near future. European bourses are set for a subdued open, while Asian shares recovered some ground, though still down for the week.

Safe-haven assets like the yen gained amid cautious sentiment. Investors are closely monitoring upcoming data, including the U.S. jobless claims and eurozone retail sales, for clues on the Fed's next move. The markets expect significant rate cuts, potentially totaling 110 basis points by year-end.

(With inputs from agencies.)