Global Investors Eye U.S. Jobs Data Amid Economic Uncertainty
Global markets remain jittery ahead of U.S. jobs data, with European and Asian shares dipping, oil prices experiencing their worst week in over a year, and Treasury yields declining. Analysts anticipate the U.S. payrolls report to inform future interest rate cuts as investors grapple with economic uncertainties.
Global shares hovered near three-week lows on Friday as investors waited for U.S. jobs data that could steer the future of interest rate cuts in the world's largest economy. The dollar regained some ground, and crude oil steadied after facing its worst week in over a year.
European shares slipped for the fifth consecutive session, with the pan-European STOXX 600 index down 0.4%. Germany's DAX index fell 0.5% after industrial production dropped by 2.4% in July, worse than analysts' expectations. James Rossiter of TD Securities noted growing concerns over Germany's economic health.
U.S. non-farm payrolls data, due at 8:30 a.m. ET, is critical, with analysts predicting a rise in jobs and a slight dip in the unemployment rate. The report will influence the Federal Reserve's imminent rate cuts, with key Fed officials slated to speak post-announcement. Meanwhile, Asian markets also saw declines, driven by weak performance in Japan and China's market closure ahead of Super Typhoon Yagi.
(With inputs from agencies.)
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