Markets were in waiting mode ahead of final pivotal data releases before September's round of central bank meetings.
Markets were in waiting mode ahead of final pivotal data releases before September's round of central bank meetings.Equity markets were mixed, with European main indices outperforming their US counterparts amid Nvidia's somewhat disappointing earnings report, while bond yields were little changed. The post-Jackson Hole rally in EUR/USD cooled off, with the cross declining back below 1.11.
3% and average hourly earnings growth at +0.2% m/m SA . Markets are currently pricing around 35% probability of the Fed initiating its easing cycle with a 50bp cut, but a print in line with our forecasts would likely push market pricing to converge towards a 25bp move . Leading up to Friday, US data calendar includes several other key releases as well, namely AugustISMmanufacturing and services indices as well as the JulyJOLTsdata.
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