- September 2, 2022
- Posted by: Stratford Team
- Category: Economy
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- World stocks steady above Thursday’s 6-week lows
- Dollar hits fresh 24-yr high against yen
- U.S. yields dip, oil recovers overnight losses
- Markets expect U.S. nonfarm payrolls +300,000
LONDON/SYDNEY, Sept 2 (Reuters) – World stocks were heading for a 3% loss on the week while the dollar hit 24-year highs against the yen for a second day on Friday ahead of key U.S. jobs data, as investors brace for aggressive rate hikes from the Federal Reserve.
Fresh lockdowns in China are also fuelling concerns about global growth, while high energy costs as a result of the war in Ukraine are weighing on European markets.
“The market is laser-focused on how aggressive the Fed is going to be with its hiking cycle,” said Giles Coghlan, chief currency analyst at HYCM, pointing out that expectations for higher rates have solidified since a speech last week by Fed chair Jerome Powell at the Jackson Hole central banking…
