GLOBAL MARKETS-US, European stocks pause near record highs ahead of central bank actions, jobs data Fed's Powell, ECB meeting to help refine rate outlooks U.S. Feb payrolls data in focus Bitcoin closes in on record high Oil prices reverse gains after OPEC+ extends output cuts Updates to 1038 EST (1538 GMT By Stephen Culp NEW YORK, March 4 (Reuters) - Wall Street followed European counterparts into the red on Monday and U.S.
FACTBOX-What to expect in 2024: Fed pivot, cooling inflation, easing growth Updates with Barclays and BofA's forecasts for S&P 500; Goldman Sachs estimates March 4 (Reuters) - Global growth will likely slow this year, but a dovish tilt in the Federal Reserve's stance has raised hopes for the U.S. economy and brightened the outlook for riskier assets, according to big banks.
BUZZ-COMMENT-Sterling eyes trend highs above 1.27 pre-Powell testimony GBP/USD bulls appear keen to test recent trend highs just above 1.27 as traders await congressional testimony by Federal Reserve Chair Jerome Powell on Wednesday and Thursday, and key payrolls data on Friday. Powell will no doubt continue to cheerlead the U.S. economic recovery from pandemic doldrums, while maintaining that while inflation remains high the Fed remains focused on bringing inflation back to target while adherin
BUZZ-COMMENT-EUR/USD may get volatilty boost on data, c.bank risks March 4 (Reuters) - EUR/USD traded slightly higher Monday, albeit near the mid-point of the 1.0790-1.0890 zone which has contained it since mid-February, with investors focused on a big week of data and central bank risks they hope can raise volatility from its 2-year lows . February HCOB services and composite PMI revisions, January retail sales and the European Central Bank meeting risks loom for the euro zone this week.
BUZZ-FX options wrap - Risk dilemma, March BoJ, EUR/USD put, CNH low FX option implied volatility continues to probe ever new 2-year lows amid a lack of actual and expected FX realised volatility. This low FX volatility environment looks set to persist until there are signs of potential policy divergence . While impending data like Friday's U.S. NFP may offer some clues, traders face a dilemma .
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