LONDON -Global shares rose to one-month highs on Friday while the dollar held steady, giving commodities a boost, after softer U.S. jobs data gave investors confidence that interest rates will start to decline this year.
But rather than putting the brakes on the stock market, the numbers are giving investors confidence in the ability of the Federal Reserve to cut interest rates this year, as central banks in Europe have started to lower borrowing costs.rose 0.9% towards record highs on Friday, heading for one of its strongest weekly performances this year. U.S. stock futures were up 0.4-0.5%.
Hotter-than-expected inflation reports last month quashed any lingering expectations of near-term U.S. rate cuts. Markets are now fully pricing in a cut only in November though there is still a chance of the Fed moving in September. The yen remains in focus after last week's suspected rounds of interventions from Japanese authorities totalling nearly $60 billion aimed at pulling the yen off its 34-year lows of 106.245 per dollar touched on April 29.
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: NOAA - 🏆 160. / 63 Read more »
Source: Investingcom - 🏆 450. / 53 Read more »
Source: CNBC - 🏆 12. / 72 Read more »
Source: CNBC - 🏆 12. / 72 Read more »
Source: CNBC - 🏆 12. / 72 Read more »