Euro markets on hold ahead of US employment data

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European stock markets edged lower on Friday as investors eyed corporate results in anticipation of U.S. labor market data.

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The data is seen as critical to the Federal Reserve’s decisions regarding the course of monetary policy in the coming months. Analysts expect data to show the economy added 258,000 jobs in July, up from 372,000 jobs in June, with the unemployment rate holding steady at 3.6 percent. A significant slowdown in labor market growth could lead the US central bank to adopt a more dovish stance on monetary policy tightening.

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On Thursday, the Bank of England raised interest rates by 50 basis points while warning that inflation is expected to peak above 13% in October, with the economy heading into recession in the fourth quarter.

On the board, the pan-European Stoxx Europe 600 index is marginally down 0.03% at 438.96 points.

Germany’s DAX lost 0.05% to 13,656.33 points, France’s CAC 40 fell 0.1% to 6,504.93 points, while Britain’s FTSE 100 fell 0.07% to 7,442.83 points.

In the region, the Italian FTSE MIB gains 0.04%, while the Spanish IBEX 35 shows marginal changes.

Source: Capital

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