📆 Tuesday, March 5
► European stocks dipped with the Stoxx 600 futures trading 0.25% lower. European markets navigate through uncertainty as PMI data from Germany and France indicate continued service sector contraction, albeit at a slower pace, suggesting a cautious yet slowly improving economic outlook. This backdrop sets the stage for the ECB's forthcoming decisions, with investor sentiment swaying between policy anticipation and real economic indicators.
► In the US, equity futures declined especially in overnight trading. Anticipation is high for Jerome Powell's congressional testimony and the economic cues it may provide, particularly regarding interest rates. Similarly, markets are eyeing the upcoming US jobs data for further insights into the economic outlook.
► Asian markets presented a mixed landscape. Chinese benchmarks showed volatility but remained slightly positive amidst new economic measures announced at the National People’s Congress. The congress outlined a 5.5% urban unemployment goal and a 3% inflation target, amidst efforts to revitalize an economy affected by a real estate slump and deflation. However, the lack of substantial fiscal stimulus has left some investors wanting more decisive action. Japan's Nikkei soared, breaking past significant levels. The JPY holds steady against the USD, with recent inflation data supporting prospects for a BOJ interest rate hike, the first since 2007.
Subscribe to see more
