Today, global markets will focus on the U.S. ISM manufacturing survey, a significant indicator in a week packed with crucial U.S. data. Investors and the Federal Reserve are seeking signals to confirm a clear path for potential interest rate cuts. Although expectations for a 50-basis-point rate cut this month have diminished, economists anticipate the ISM index will rise to 47.5, indicating contraction but still an improvement. Job growth is projected at 160,000, with unemployment dipping to 4.2%.
Lower-than-expected data could push the dollar down, despite its recent recovery after a two-month decline. Meanwhile, Asian markets saw cautious trading, with currencies rebounding in hopes of U.S. rate cuts. In company news, Cathay Pacific suspended flights to inspect its Airbus A350 fleet due to an engine issue, and Japan denied reports of Seven & i Holdings seeking national security classification against a takeover bid.