Shares pause as U.S jobs report looms, euro gains
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A rally in global share markets halted on Friday as investors braced for monthly jobs data from the United States, while the euro recovered slightly from losses driven by the European Central Bank's decision to cut rates.
Analysts expect the April nonfarm payrolls report, due at 1230 GMT, to show American employers hired 145,000 people last month, up from March's dismal pace of 88,000 but not enough to erase fears the world's biggest economy is losing steam.
"I think we will see a weak payrolls number," said Fred Goodwin, cross-asset strategist at State Street.
"But we'll have to wait and see if that is a bad-news-is-good-news situation, or if the market will, at some point, begin to really take on board the fact that the data is weakening much more than they thought and it will be an adverse reaction."
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