With an important day at the news level and after a few days of sharp rise, investors were looking forward to the non-farm payrolls and later to the statements of the FED President at a conference in Zurich. Regarding employment figures sentiment was mixed, with the negative component of having fallen below the jobs anticipated by analysts, being overruled by the prospect that this will result in a more dovish position on the part of the FED.
This mindset Jerome Powell did not confirm or deny, as beyond the usual analysis of a well-functioning US economy, notwithstanding the risks, the indication he left was the traditional and laconic expression that the central bank will make whatever it takes to sustain the pace of economic expansion, thus leaving investors feeling very similar to what they had at the beginning of the session, and hence the movement of the indices is for the moment not very significant.
Photo by M. B. M.
