World stocks held steady on Tuesday while the dollar remained near a two-week high as investors awaited crucial U.S. economic data.
The focus is on the ISM manufacturing survey and Friday’s non-farm payrolls report, which will significantly influence the Federal Reserve’s interest rate decisions for the rest of the year.
Stock futures in the U.S. were slightly lower, and ten-year Treasury yields dropped to 3.90% as global markets adjusted after a U.S. holiday.
Economists expect the ISM survey to show a slight improvement but still in contraction, with Friday’s payrolls report anticipated to show a 160,000 increase in jobs and a decrease in the unemployment rate.
In currency and commodity markets, the dollar strengthened, while the yen gained against the dollar after Japan’s central bank hinted at further rate hikes.
Oil prices fell for a third consecutive session, and gold edged higher after reaching a record high in August.