Stocks Shifting While Traders Watch Data for Rate Indications – Europe Market Wrap

Stocks traded neutral as investors anticipated an annual review of US employment data and Fed meeting minutes for any signals on interest rate decreases.

US market futures hinted at minor changes at the Wall Street open, while Europe’s Stoxx 600 nudged 0.2% higher on weak trading. The 10-year Treasury yield remained unchanged at 3.81%, as the Dollar halted a three-day drop. Rate-cut predictions have fuelled a bout of Dollar weakness, but the US currency paused its decline on Wednesday amid suspicion that the loss may have been excessive.

Goldman Sachs, Wells Fargo, and economists expect the government’s early benchmark adjustments on Wednesday to indicate that payroll growth in the year through March was at least 600,000 lower than previously estimated. While JPMorgan predicts a fall of approximately 360,000, Goldman suggests it might be as much as a million.

Following the Dollar’s recent losses, Gold remained at a record high. Because Gold is valued in US dollars, a weaker Dollar is usually beneficial.