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Later in the session on Friday, Eurozone retail sales figures will warrant investor attention. Upward trends in consumer spending could fuel demand-driven inflation and delay the timing of an ECB rate cut.
Economists forecast retail sales to increase by 0.2% in May after falling by 0.5% in April.
However, the crucial US Jobs Report will impact the global financial markets more.
Softer-than-expected wage growth and an uptick in the US employment rate could cement investor bets on a September Fed rate cut.
Economists expect average hourly earnings to increase 3.9% year-on-year in June after rising 4.1% in May. Average hourly earnings had eased to 4.0% in April before an uptick in May.
Furthermore, economists expect the US unemployment rate to remain unchanged at 4.0%.
On Tuesday, Fed Chair Powell said that…
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