European stocks head for 7th weekly gain

Yen at two-month high up on rate trek bets

Gold consistent near record peak

By Amanda Cooper

LONDON, Feb 7 (Reuters) -

U.S. stock futures steadied on Friday ahead of U.S. payrolls information, with financiers very carefully optimistic that the world may prevent a full-on trade war, while the prospect of more in Japan this year briefly sent the yen towards two-month highs.

In a week that started with U.S. President Donald Trump kicking off a trade war and whipping up market volatility, investors have been careful of making any major moves, considered that he followed through on his danger to impose duties on China while granting Mexico and Canada a one-month reprieve.

The necessary U.S. tasks report for January is due ahead of the Wall Street open. Economists expect to see 170,000 workers contributed to nonfarm payrolls last month, but provided the possible distortions from spells of cold weather and the California wildfires, the variety of projections is broad.

"The focus for the monetary markets in current weeks has been very much on Trump and his financial policies, in particular on trade, however today there is the capacity for the tasks information to affect Fed rate expectations,” Derek Halpenny, a currency strategist at MUFG, said.

"A quite big divergence from the agreement is still likely needed to move expectations especially but severe weather condition at this time of the year has in the past resulted in sharply weaker NFP readings and weather could impact today ´ s report,” he said.

Futures on the Nasdaq and S&P 500 were trading mainly steady on the day, while shares of

Amazon

insinuated premarket trading on the back of

weak point

in the retailer’s cloud unit.

In Europe, the STOXX 600 headed for elearnportal.science a seventh straight week of gains, trading flat on the day after having hit record highs earlier today, following a wave of strong incomes from the similarity Danish weight-loss drugmaker Novo Nordisk, German software application company SAP and French loan provider BNP Paribas.

European stocks have actually staged their finest performance in a years against Wall Street in the first 6 weeks of 2025, however the focus is now on whether those gains can be sustained.

On the Asian market, tech stocks staged a rally, powered by Chinese retail investors, who have pounced on the AI style in the wake of home-grown start-up DeepSeek’s development.

DELICATE CHINA

Beijing’s relatively determined response to Trump’s tariffs has left room for settlements, analysts state, which has actually assisted repair financier sentiment.

China’s blue-chip stock index closed up 1.3% after touching a one-month high.

"Whilst there is significant noise and uncertainty, we do not see intensifying trade tensions as a video game changer in the prospects for the Chinese market,” said James Cook, financial investment director for emerging markets at Federated Hermes.

Markets are pricing in 43 basis points of relieving this year from the Fed, thatswhathappened.wiki with a rate cut in July totally priced in, as policymakers remain in no rush to begin the rate-cutting cycle again.

The dollar edged up 0.1% against a basket of currencies, having rallied 7% in 2015, as investors priced in a much more aggressive policy position from the Fed this year, where rate cuts may be rare.

Other main banks are cutting interest rates, while the Bank of Japan is tailoring up for a minimum of another rate trek this year. Strong wage development data has beefed up the chances of tighter monetary policy, which has actually pushed the yen to two-month highs against the dollar.

The yen touched 150.96 per dollar overnight, its strongest level because December 10, before easing to leave the dollar up 0.4% on the day at 152.155.

Sterling reversed earlier losses to rise 0.1% to $1.2449, ura.cc having dropped 0.5% on Thursday as the BoE cut interest rates and slashed its 2025 UK growth forecast.

In commodities, oil edged up, bio.rogstecnologia.com.br while gold steadied above $2,800 an ounce, demo.qkseo.in near tape highs.

(Additional reporting by Ankur Banerjee in Singapore