Daily digest market movers: Fed is ready to pull the trigger on cuts
- The US Jobs Report for February will be published at 13:30 GMT:
- Nonfarm Payrolls growth is expected to decline from 353,000 to 200,000.
- Growth in Yearly Average Hourly Earnings is expected to fall slightly from 4.5% to 4.4%.
- Monthly Average Hourly Earnings growth should also decrease from 0.6% to 0.3%.
- The Unemployment Rate should remain stable at 3.7%.
- Equities are flat to mildly in the green after the Asia closing. Equities were on fire on Thursday after Powell commented that the Fed is ready to cut once data falls in line.
- According to the CME Group’s FedWatch Tool, expectations for a Fed pause in the March 20 meeting are at 95%, while chances of a rate cut stand at 5%.
- The benchmark 10-year US Treasury Note trades around 4.07%, the lowest level in over a week.
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