From Investing.com: 2024-08-05 03:14:00

US jobs data underwhelmed last week, triggering recession fears with the SAHM rule indicating a likely economic downturn. The Magnificent 7 tech companies have collectively lost almost $1.75 trillion in market capitalization. Rate cut bets for the US are facing revisions due to global recessionary fears. The Reserve Bank of Australia (RBA) is set to make a decision next week, with market watchers eager for a potential dovish pivot. Following geopolitical tensions and rising recessionary fears, Asia Pacific data releases will be closely monitored this week. Major central bank meetings and limited data releases in Europe, UK, and US will also impact market sentiment. The US Dollar Index (DXY) faces key support and resistance levels amid adjustments to rate cut expectations.



Read more at Investing.com: Markets Weekly Outlook – Rising US Job Fears, Geopolitics in the Spotlight