Fundamental Comment

Calmness in markets due to holidays ahead of US NFP

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Financial markets were calm on Friday, by the end of the first quarter, owing to the absence of many markets around the world due to holidays, ahead of the U.S. non-farm payrolls report next week.

The U.S. dollar rallied this week against major currencies as it took advantage of improvement in U.S. fourth-quarter growth data, where it rebounded after the latest slump that has been triggered by global trade tensions.

Next week, the markets will focus on the U.S. jobs report, which is expected to show a job addition of 203,000 in March, following a 313,000-job gain in February.

Unemployment rate is expected to fall to 4 percent from the previous reading of 4.1%, while the average hourly wage index may rise by 0.2% from a previous 0.1%.

In Europe, the focus will be on industrial and service data, with the euro expected to continue to fluctuate so that investors can set a new trend in the market as the second quarter begins.

The Reserve Bank of Australia will announce its interest rate decision next week with expectations of no change in monetary policy to support growth and inflation.

The Chinese economy will also announce its industrial and services data, which will be of great importance in the coming months due to concerns about a potential trade war with the United States.

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