07 Jul Odilia Business Advisors – Morning Report
Odilia Business Advisors
07 July 2017
Asian shares lost ground on Friday after a weak session on Wall Street, while global sovereign debt yields were elevated across the board on bets the European Central Bank is moving ever closer towards unwinding its massive monetary stimulus.
The prospect of the ECB turning off the flow of easy money has been a dominant global market theme since President Mario Draghi’s hawkish comments last week, pushing bond yields higher and hurting equities.
The dollar index was a shade higher at 95.930. Activity in the markets was limited ahead of the closely watched U.S. non-farm jobs report due later in the day.
Much focus was on the wage component of the employment report and whether spending by U.S. consumers would be strong enough to back the Fed’s intention to further tighten policy
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