Firm Markets Ahead of Jobs Data as Rate Hike Expectations Ease

Global markets are trading firm ahead of the release of US jobs data for September. Sentiment has remained steady despite expectations of a slowdown in job growth, with market participants anticipating a moderation in hiring rates.

The decline in crude oil prices and easing bond yields have contributed to the positive sentiment, as investors await the upcoming jobs report. According to the CME FedWatch tool, expectations for a quarter-point interest rate hike by the Federal Reserve in October have decreased to 21.6% from 64.2% just a week ago.

On Wall Street, futures have rallied more than half a percent, while major European benchmarks are trading higher. Asian markets finished trading on a mixed note earlier in the day. The six-currency Dollar Index has edged down slightly, while gold prices are in positive territory.

Cryptocurrencies have also seen gains, with Bitcoin leading the charge at $86,266.44, up 2.76%. Ethereum, BNB, XRP, and Solana are also higher, with Solana surging by 3.16% to $121.70.