Global Markets Cautious Ahead of US Jobs Report That Could Sway Fed Rate Cut Outlook
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European equity futures declined Friday while Asian stocks were mixed as investors await US jobs data to gauge Fed interest rate cuts.
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Traders pushed back bets on Fed rate cut timing as strong US private jobs data buoyed yields; jobs report Friday expected to show 175,000 positions added.
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Yen weakened slightly, pushing closer to 145 per dollar, after second 1% drop vs dollar in two days amid Bank of Japan negative rate policy speculation.
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Oil edged higher, cementing weekly gain, as Middle East tensions eclipsed signs of weakening US demand.
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Swaps traders see 65% chance of Fed rate cut by March, down from 85% last week; jobs data could dampen bets on near-term January, March cuts.