Renewed rate cut hopes triggered by the unexpected decline in services PMI in the U.S. supported market sentiment despite lingering anxiety ahead of the crucial job market update and cautious statements from Fed officials.
A mixed trend prevailed in world markets as anxiety ahead of the monthly labor market update from the U.S as well as the unexpected decline in inflation in the Euro Area, both swayed market sentiment.
An unexpected rebound in manufacturing activity in the U.S. forced markets to scale down Fed rate cut expectations, dampening overall market sentiment..
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