Financial markets await US payrolls and wait to hear from Powell
After yesterday’s dramatic day, the financial markets are awaiting the US employment data for March and, more importantly, the words that J Powell, Governor of the FED, will deliver today at the Society for Advancing Business Editing and Writing conference.
Our intermarket dashboards signal a strong risk-off situation in the financial markets, with the T30/SPY ratio signalling a sharp increase in fears of a recession. The S&P500 sees the September 2024 lows, moves further away from the 200-day average and may only find a foothold in the 5200-point area.
On the macroeconomic front, today’s main event is the US employment data for March. Expectation is also high for German industrial orders and for Fed Governor Powell’s remarks at the Society for Advancing Business Editing and Writing conference.
Our forecast analysis indicates another difficult day for equity markets, while on the bond front the indications are for a further reduction in yields on US government bonds. On the currency front there are signs of strength for the risk-off assets: Swiss franc and yen. Volatility is still expected to rise.
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NOTES AND WARNINGS
Data compiled by kbmeter.com. Analysis date: 4 April 2025 - 7:23 AM GMT+1
This content is provided for informational purposes only and should not be considered financial advice. All scores and assessments are based on the previous trading day’s closing prices. Futures indications refer to the date and time of the analysis.
