By David Madden (Market Analyst at Equiti Capital)
By Stuart Cole, Head Macro Economist, Equiti Capital
By Stuart Cole, Head Macro Economist, Equiti Capital
Editorial by Stuart Cole, head macro economist at Equiti Capital
The dollar's performance varied at the beginning of the week against the major currencies in the markets after the release of US jobs data.
Facebook's owner Meta Platforms, saw its stock market value plummet by more than $230 billion (£169 billion) on Thursday, in a record daily loss for the US company.
Today, the financial markets are eyeing the Non-farm payroll report issued from the US Bureau of Labor Statistics in the wake of the Fed’s intention to tighten its monetary policy. The Fed will likely hike its rate for the first time since late 2018, next March when it ends the massive asset purchase program of $120 billion a month.
- Unlike the Federal Reserve (Fed) and Bank of England (BoE), the European Central Bank (ECB) policy remains in ‘support’ mode
- But with CPI at 5%, tensions are growing that an accommodative monetary policy is no longer required
- The reality is the ECB is also working to avoid another blow-out in sovereign bond yields
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