Traders cautious ahead of non-farm payrolls announcement in the US today

<p>European shares opened flat today as investors remained cautious about the US jobs report later in the day that could determine when the Federal Reserve […]</p>

The video cannot be shown at the moment. Please try again later.

European shares opened flat today as investors remained cautious about the US jobs report later in the day that could determine when the Federal Reserve will start scaling back its monetary stimulus.


At 9am GMT, future contracts for the UK FTSE were nearly flat at around 6519. This was also the case for Germany’s DAX, which traded at 8217.5.


The biggest risers and fallers for the FTSE were Tullow Oil, which was up 19 points, or 1.84% and ITV, which was down by 1.66%.


Moving over to equities, Ericsson AB climbed 1.6% after Credit Suisse Group AG raised its rating of the share.


In terms of economic data, the most important figure to look out for today will be the US non-farm employment change, which will be examined for clues on whether the US recovery is strong enough to allow the Fed to move to taper asset purchases as soon as this month.


The world’s biggest economy is expected to have added 180,000 non-farm jobs last month, keeping the unemployment rate steady at 7.4%.



Build your confidence risk free
Join our live webinars for the latest analysis and trading ideas. Register now

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.