STREET investors may find little reason to make big moves this week as they await monthly US jobs data and any news that could change expectations for the first rate hike in almost a decade.
The Labor Department report is due on Friday, when the market will be closed for Good Friday, leaving investors unable to trade on the data until the following week.
Meanwhile, investors will continue adjusting to lowered earnings forecasts for the first quarter and the uncertain direction of the dollar. Stocks have trended downward since rallying on the Federal Reserve’s 18 March statement, in which it suggested a more dovish approach to raising rates than investors had expected.
Uncertainty surrounding the Fed’s rate move has been one of the key factors creating more volatility and putting greater emphasis on data that could sway the Bank.