Employment United States, Powell, China, OPEC + … Factors that will guide European stock markets today
The last session of the week in European locations starts on a day downward with the main point of focus being the official employment report in the United States, where there is an expected uptick in job creation rates in February to + 200,000 non-farm payrolls. (Vs. +49,000 ago), which would leave the unemployment rate stable with 6.3% and wages + 5.3% and Yoy (+ 5.4% earlier). This represents an improvement, but remains far from pre-Kovid levels (3.5%).
For its part, China has set a GDP growth target of> + 6% for 2021, which seems conservative and may respond to lower monetary and fiscal support from the Asian giants, although it has to be kept in mind that China is far ahead The rest of the economies in their recovery have already completed the V-turn of their economy.
Yesterday Powell made the statement after the European shutdown (6pm), but opened with Wall Street not showing concrete measures to slow the pace of these increases, despite showing his concern about the rapid rise in IRR last week. Introduced. The 10-year IRR for the US rose 1.58% to 1.56%, while yields in the stock markets, although down for the full season (S & P -1%), Nasdaq -1.7% hit the February high of the technical index. Reduced by 10%. ) Belongs to. The Fed president reiterated that he expects a rebound in inflation in the short term, but not in line with time, and therefore will not compromise his average inflation target of 2%, while the US economy is far from its target of full employment is. This may make it possible to maintain a broadly adjusted monetary policy. Even with everything, we keep thinking that if verbal intervention is not enough to stop the rapid and rapid rise of the IRR, then we have to go to the facts (considering the modifications in the purchase of assets Is, a return to Operation Fist …).
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