EMEA Morning Briefing: Investors Await U.S. Jobs Report

EMEA market investors are positioning for U.S. jobs data, with Thursday’s European session expected to open slightly higher as trading sentiment remains mixed. Asian benchmarks were mixed, while the dollar and Treasury yields were largely unchanged; oil futures and gold fell. Focus is on the U.S. June nonfarm payrolls report, viewed as a test for Wall Street’s optimistic outlook, with Fed Chair Kevin Warsh’s comments adding to the pre-data volatility. Warsh told an event in Portugal that inflation risks have eased since the Fed’s prior meeting, while he avoided saying whether a rate hike is likely later this month. UBS cut its 2026–27 Brent forecasts to $84 and $75 a barrel, citing higher shipments through the Strait of Hormuz and falling geopolitical risk.