Global Markets Steady as U.S. Private Jobs Data Takes Centre Stage

Global markets kicked off Monday with a cautious tone as investors shifted focus to private jobs data in the U.S., due to the ongoing government shutdown delaying official employment figures. 

The U.S. dollar held near a three-month high, reflecting expectations that the Federal Reserve may delay further rate cuts. Meanwhile, the euro hovered at its lowest level in three months. 

Trading volumes remained light ahead of key indicators such as the ADP Research Institute private employment report and the Institute for Supply Management (ISM) manufacturing survey. Investors are relying on these to assess whether the labour market is weakening and to gauge the Fed’s next move. 

Optimism over a newly announced U.S.–China trade truce gave a mild boost to risk sentiment, particularly in Asian markets. But disappointing manufacturing data from China and across the region raised concerns about global demand. 

In Europe, futures pointed to a modestly higher open, but analysts warned that underlying economic weakness and policy uncertainty could easily shift the market’s course.