Presumptive presidential nominee says he’s ‘most likely’ to pick a new Fed chair when Yellen’s time is up * Trump: Yellen’s very capable but not a Republican * US layoffs jumped in April * ....and jobless claims rose last week * Britain’s service sector suffers slowdown * Could Bank of England cut rates again? 4.39pm BST Markets are struggling to make any headway ahead of Friday’s US non-farm payroll numbers. Chris Beauchamp, senior market analyst at IG, says: While markets have stabilised after days of losses, there seems little that can revive bullish sentiment as the day heads to its close. Despite an early attempt at a rally, indices remain under pressure, and it looks as if sellers will continue to dominate as the week enters its final session. ...Stocks remain under pressure, and with non-farm payrolls tomorrow the outlook remains resolutely grim. Further US dollar strength provides the reason for why there is little hope for indices at the present time. After weeks of weakness the impetus to buy the dollar appears too strong to hold back, which would provide a cogent reason for why indices have little ability to move higher. Ahead of non-farm payrolls, the market waits to see if the figure can best the number produced by ADP figures on Wednesday. 4.17pm BST Meanwhile Greece’s unions have called a general strike for Friday and Saturday to protest against the tax and pension reforms due to be debated in parliament over the weekend, Reuters is reporting. Continue reading...
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