Global shares were firmer on Friday ahead of key U.S. non-farm payroll numbers, underpinned by reassurance from the Federal Reserve that the next move in rates would be down.
The MSCI All Country stock index was up 0.23 per cent at 762.23 points, down 3 per cent from its all-time high in March as investors reassessed when central banks will start cutting interest rates in the face of stickier-than-expected inflation.In early trading, Britain’s FTSE rose 0.38 per cent, Germany’s DAX also advanced 0.38 per cent and France’s CAC 40 gained 0.54 per cent.
“I think it will take a little while for many to get used to that after coming out of a such a low interest rate environment for a long period,” Osman added. Markets in Japan and mainland China were closed on Friday. MSCI’s broadest index of Asia-Pacific shares outside Japan surged to 550.49, its highest since February 2023.
In between, traders suspect the authorities stepped in on at least two days this week and data from the BOJ suggests Japanese officials may have spent roughly $60 billion to defend the beleaguered yen, leaving trading desks across the globe on high alert for further moves by Tokyo.
Source: News Formal (newsformal.com)
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