Economic news

FX and stock market are main events today

2023.02.03 03:47

FX and stock market are main events today
FX and stock market are main events today

FX and stock market are main events today

By Ray Johnson

Budrigannews.com – The Big Tech triple-header followed the Fed, ECB, and BoE triple-header, which rekindled concerns about global economic conditions and increased investor confidence in the end of the massive global tightening cycle.

Apple’s (NASDAQ:) gloomy fourth-quarter results, Alphabet, owned by Google (NASDAQ:) likewise, Amazon (NASDAQ:) on Friday, prior to the crucial non-farm payroll data that will be released later in the day, are likely to cast a shadow on the markets.

Analysts anticipate that 185,000 new jobs were created last month, and the report will likely provide a more complete picture of the US labor market.

Asian stocks eased as the market accepted the reality of the economic downturn. MSCI’s broadest index of Asia-Pacific shares outside of Japan fell 0.7% this week, ending the week in the red after five consecutive gains. Gold stabilized while the dollar strengthened.

Following the publication of a damning report on Jan. 24 by U.S. short-seller Hindenburg, Adani Group shares continue to suffer, with market losses now exceeding $115 billion (for the seven listed Adani firms). Fears of a wider impact on Indian stocks have been fueled by the collapse in share prices.

A private sector survey found that China’s services activity increased for the first time in five months in January, boosting business confidence to near 12-year highs, which was a bright spot for the market.

There was a glimmer of hope that consumer spending was beginning to rebound in China, even in the midst of the dire earnings reports from U.S. bellwethers.

Important developments that may have an impact on Friday’s markets:

Things that happen in the economy: UK, Germany, and the Eurozone S&P Global (NYSE:) data from U.S. non-farm payrolls and business surveys.

More:

Markets optimistic about weakening of inflation

Fed will continue to gradually raise interest rate

FX and stock market are main events today

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