Oil cartel meeting, China property sector, US payrolls to be the main focus for global markets this week
The bear and bull statues outside the Frankfurt Stock Exchange. Picture: BLOOMBERG/ALEX KRAUS
Those factors remain in play, with trading in Evergrande shares suspended, days after it missed a second set of interest payments on offshore debt. More important is Friday’s monthly US payrolls data which a Reuters poll forecast will show 500,000 jobs added last month. Already, the core US PCE price index, the Fed’s preferred inflation measure, increased 3.6% in August from a year earlier, its biggest rise in three decades while eurozone inflation hit a 13-year high
The greenback eased slightly on Monday, allowing the euro bounce to $1.16145, off Thursday’s 14-month low of $1.1563. It also dipped to 111.135 yen, staying below Thursday’s 1-1/2-year high of 112.08 yen.
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