CAC40: green ahead of US jobs report
Due for release in the early afternoon, "the report could strongly affect expectations regarding monetary policy", warns Duc Nam Pho, at Kama Capital, recalling that "the labor market remains resilient and is closely monitored by the Federal Reserve".
Weaker-than-expected labor market data could support stock market performance and a pullback in yields, as traders may incorporate a softer stance from the Federal Reserve', he continues.
As an indication, Jefferies expects the creation of 150,000 non-farm jobs in September, down from 187,000 the previous month, with the unemployment rate falling from 3.8% to 3.6% month-on-month.
In the meantime, traders will be looking ahead to the week's leading news event, with the French trade balance and German industrial orders for August due to be released early this morning.
On the stock front, Crédit Agricole, having received all the necessary authorizations from the supervisory authorities, has announced the launch of a share buyback program for up to 26,835,641 shares between now and January 26, with a view to their cancellation.
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