📆 Thursday, March 7
► European markets are little unchanged, reflecting investor caution ahead of the ECB interest rate decision. The Stoxx 600's movement underscores the broader market sentiment, weighing on fiscal and monetary policy directions across Europe. Germany experienced a significant drop in manufacturing orders in January, reversing much of December's gains and pointing to subdued demand for German goods – in sharp contrast to German export data that was reported yesterday and came in well above expectations.
► In the US, market futures are slightly higher with traders continue to observe Fed Chair Jerome Powell's further testimony. Powell's previous reaffirmation of a cautious approach to interest rate adjustments left investors parsing for more definitive clues on monetary policy shifts, aligning closely with job market insights and upcoming economic indicators. The USD softened, and 10-year Treasuries saw minimal movement amidst mixed signals from the Fed and anticipation of the ECB maintaining steady borrowing costs.
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