A look at Friday morning’s market action
Global stocks were under pressure ahead of U.S. and Canadian jobs reports that could set the tone for future interest-rate moves.
“Before the announcement of the U.S. official jobs data, activity on Fed funds futures suggests that the Fed’s next rate cut should arrive in May – with around a 53-per-cent chance,” Ipek Ozkardeskaya, senior analyst at Swissquote Bank, wrote in a note. Oil prices rose and were on track for a third straight week of gains as traders focused on potential supply disruptions from sanctions while icy conditions in parts of the United States and Europe are expected to drive up fuel demand.
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