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Waiting for word from the Fed chief

A look at the day ahead in European and global markets from Kevin Buckland

Markets are largely in a holding pattern, with investors looking to two days of commentary from Fed Chair Jay Powell starting later in the day for a steer on whether U.S. rate hikes are indeed done.

Last week’s surprisingly soft jobs data heightened expectations that interest rates had peaked, but Fed commentary since then has warned against complacency in the fight against inflation.