After the Federal Reserve has recently turned data-dependent, this adds significant importance to US data for Fed rate hike expectations. Nonfarm Payrolls and ISM data will be key this week. We also watch for rate hikes from several other central banks.
After a recovery on risk assets yesterday, there is far more of a cautious feel to major markets this morning. Selling risk assets into strength has been a consistent theme as key data has continued to paint a picture of mounting recession risks. Nonfarm Payrolls will be in focus today.
After a day of consolidation yesterday, as US Treasury yields start to drop again the USD is once more being sold. A more positive outlook to risk appetite is helping metals, equities and crypto.
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