Posted 4/4/2024, 10:02:16 AM
Labor Data and Fed Remarks Eyed for Economic Signals Amid Mixed Data
- Data on weekly jobless claims and March nonfarm payrolls coming this week, indications of labor market strength
- Jerome Powell emphasizes data dependency for future Fed policy decisions
- ISM service sector gauge much weaker than expected, sparking concerns of an economic crack
- Dollar falls 0.5% on Wednesday after weak ISM data, but 10-year Treasury yield remains high
- Divergence growing between Fed and ECB rate cut expectations due to differences in economic outlooks
