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MICHAEL MACKENZIE: Here's what we're watching as the trading week enters the homestretch. All eyes are focused on what the latest reading of the US jobs market will reveal. A strong report and certainly one that exceeds the consensus forecast of 175,000 new highs for January has scoped to re-energize the dollar and push up bond yields.
Robust growth ahead of expectations of a hefty dose of stimulus under President Trump should shape as good news for equities. However, US shares are lower for the week, waiting for payrolls, but also rattled by the policy noise coming out of Washington. For now, decent earnings and firm economic data are being downplayed by investors and perhaps, for good reason.
Payrolls is just the first in a string of key events that distinguish February. The Federal Reserve's monetary report to Congress and Janet Yellen semi-annual testimony loom in the mid-month. Then comes the President's State of the union address. For all the allure of big tax cuts and infrastructure spending from a pro-business Trump presidency, there's also the risk of protectionism and trade spats. And that will only rattle investors.
