Global Stocks Face Uncertainty as US Jobs Data in Focus

Global stocks face uncertainty as investors await US jobs data to gauge rate cut prospects. The FTSE 100, DAX 40, and Nasdaq 100 are under pressure.

Global stock markets experienced a turbulent session as investors grappled with uncertainties surrounding potential interest rate cuts. Here’s a breakdown of how major indices fared:

FTSE 100: Retesting Resistance

The FTSE 100 valiantly attempted to reclaim the 8,000-point milestone. However, it fell just short of this psychological level. The trigger? Some Federal Reserve officials raised doubts regarding the timing of rate cuts later this year.

The index currently hovers near its March-to-April uptrend line at 7,856. All eyes are on today’s crucial US Non-Farm Payrolls report, which could sway market sentiment. A breach below Friday’s intraday low at 7,856 might bring the December-to-mid-March highs (7,786 to 7,769) back into play. Monitor minor resistance at the March 22 high (7,962).

Global Stocks Face Uncertainty as US Jobs Data in Focus

DAX 40: A Week of Declines

The DAX 40 faced headwinds. It reversed lower on Tuesday and recently touched a one-week low at 18,119. As we await critical US employment data, support lies around the mid-March high (18,044) and the psychological 18,000 mark. Minor resistance appears at Tuesday’s low of 18,258, while a move above it could encounter resistance near the March 27 low (18,382).

Nasdaq 100: Corrective Moves

The Nasdaq 100 grappled with rate cut expectations. Fed officials’ speeches led to a scaling back of rate cut probabilities, causing the index to dip. It found support at the 55-day simple moving average (SMA), currently at 17,877. Beneath this level, the late February and March lows (17,791 to 17,762) offer additional support.

Investors should closely monitor central bank communications and economic data releases for further clues on rate policy. Volatility remains the name of the game as markets react to shifting expectations.

Remember, in the world of finance, uncertainty often breeds opportunity. Stay informed and agile as the landscape evolves.

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