Investors will keep focus on US jobs data today and tomorrow [Video]

Ipek Ozkardeskaya Swissquote Bank Ltd

Rally in most major indices across Europe and the US paused yesterday, as Trump-driven optimism began to sour under the rocky glare of the summer sun.

To top it off, yesterday’s US data did little to support those betting on an imminent Federal Reserve (Fed) rate cut. Most FOMC members still argue that cutting rates now would be a mistake, particularly as they expect inflation to rise due to tariffs in the coming months, and the labour market remains robust enough to wait. In fact, US job openings unexpectedly rose in May, the ISM Manufacturing Index showed slower contraction, and price pressures edged higher in June.

Investors will keep focus on US jobs data today and tomorrow. Sufficiently strong figures could lead to an accelerated readjustment of Fed pricing, push yields higher and weigh on risk appetite.

Author

Ipek Ozkardeskaya

Swissquote Bank Ltd

Ipek Ozkardeskaya began her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked in HSBC Private Bank in Geneva in relation to high and ultra-high-net-worth clients.

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