Welcome to Extreme Investor Network, your go-to source for all things related to the stock market, trading, and Wall Street. Today, we are diving into the latest updates that could impact the global financial markets.
In the upcoming session, Eurozone retail sales figures are set to be released, attracting the attention of investors. A rise in consumer spending could potentially lead to demand-driven inflation, potentially affecting the timing of an ECB rate cut. Economists are predicting a 0.2% increase in retail sales for May, following a 0.5% decline in April.
However, all eyes are on the crucial US Jobs Report, which is expected to have a more significant impact on the financial markets. A weaker-than-expected wage growth and a rise in the US employment rate could solidify investor expectations of a Fed rate cut in September. Economists are forecasting a 3.9% year-on-year increase in average hourly earnings for June, down from 4.1% in May.
Furthermore, the US unemployment rate is expected to hold steady at 4.0%. Fed Chair Powell recently highlighted the importance of wage growth, emphasizing the significance of the average hourly earnings data.
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