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The market is in a softer mood as we count down to the US weekly initial jobless claims report. Expectations heading into the report vary wildly but whatever the case is, it certainly casts a massive shadow over the market as we enter the last two days of the week.
In the currencies space, the dollar finds itself on the back foot once again as it sits lower against the likes of the euro and yen notably. However, the greenback is maintaining some gains against the risk/commodity currencies amid the softer risk mood.
European stocks look set for a softer open later, with US futures also keeping lower by just over 1% as we start the session.
The anticipation ahead of the US weekly initial jobless claims report may be keeping some investors sidelined for now but considering the range of expectations, the release will act more as a compass to guide trading direction over the next two days.
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