Market Wrap and Week Ahead – w/c March 11th
Recent commentary from ECB President Christine Lagarde and Federal Reserve Chairman Jerome Powell suggest that both central banks are looking to start a series of interest rate cuts in June.
In his testimony to the Senate Banking Committee on Thursday, Fed Chair Jerome Powell indicated that interest rates could soon be on the way down. ‘If the economy does as expected, we think carefully removing the restrictive stance of policy will begin over the course of the year’, Powell said Thursday.
Friday’s latest US Jobs Report also showed the closely watched unemployment rate rise unexpectedly from 3.7% to 3.9%, while average earnings slowed further.
US Dollar Falls Further After US NFP Beat But January Number Revised Lower
Also Thursday, post-policy decision commentary from ECB’s Lagarde also pointed to the end of H1 as an appropriate time to start cutting borrowing costs.
‘We are making…
