Mid-Week Wrap: 05 June 2024
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Market Mood
Investors are eagerly awaiting May's US non-farm payrolls and wage growth data, hoping for signs of a slowdown in job growth and wage inflation amid concerns about the Federal Reserve delaying interest rate cuts. Meanwhile, the European Central Bank is expected to announce a 25-basis point rate cut in response to softening inflation, as indicated by recent data. Despite initial positive market reactions to rate cuts, the long-term impact on European equities hinges more on economic fundamentals than the cuts themselves.