US job numbers could dominate global central bank rate decisions

Total employment in Ireland is now at a record high of 2.74 million

Given the vast number of elections taking place globally this year, it is somewhat surprising that currency markets have not been more volatile.

An underappreciated driver of the recent slowdown in jobs growth has also been the pullback in hiring by the public sector in the US

The path of inflation, particularly services inflation, will be key in determining the level of policy easing ahead in the eurozone, US and UK

The growing reliance on multinationals to underpin the tax base remains the key threat to the economy and the Government finances in the face of geopolitical risks and recent 'de-globalisation' trends

Amid the political noise, the past week has also been marked by relatively dovish commentary from European Central Bank members

Data points to slowing growth momentum across the key economies, including the eurozone and the UK, with the manufacturing sector, in particular, moving back into contraction territory in many regions

Markets are selling off French assets, with the large banks particularly impacted

Uptick in services may embolden the hawks at the ECB to push for a more gradual decline in rates following the expected 25 basis point cut on Thursday