Markets on edge ahead of US jobs report and UK trade data – business live

Shares have fallen across Asia today, as traders hunkered down ahead of the US jobs report.

In Japan, the Nikkei hit a three-week low – but then recovered some ground after the Bank Of Japan boosted its government bondbuying programme.

Australia’s S&P/ASX 200 index shed almost 1%, and there were losses in Hong Kong, South Korea and China too.

Despite the BoJ’s move, the big concern in the markets right now is that central banks are moving towards unwinding their stimulus programme.

Yesterday, minutes from the European Central Bank showed that policymakers had discussed dropping its pledge to boost its own bond-buying efforts, if needed.

Mike van Dulken of Accendo Markets explains:

Investors are digesting hawkish ECB minutes and prepping for further withdrawal of global easy money policy; tapering of ECB QE, unwind of Fed’s balance sheet. Maybe even a UK rate hike.

Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business.

Investors are edgy today as they brace for a splurge of economic data from both sides of the Atlantic. Bonds and equities are both under some pressure.

It’s Non-Farm Payroll day in the US, when we learn how many Americans joined the labour market last month. The consensus forecast is that the NFP rose by around 179,000 in June, which would show that the economy continues to create jobs at a healthy rate.

Average earnings are expected to have picked up last month, pushing the annual rate to 2.6% from 2.5%, while the jobless rate could remain at just 4.3%

A weak report might fuel worries that the US economy is slowing; conversely, a really strong report would create more pressure to keep raising interest rates. So there could be some drama when the figures hit the wires at 1.30pm BST.

In the UK, we find out how the industrial sector fared in May, and how Britain traded with the rest of the world.

Economists predict that UK industrial output rose by 0.5% during the month, up from 0.2%

They also expect that Britain ran a trade deficit of around £2.5bn with the rest of the world, despite the supposed benefits of a weaker pound.

City investors will also be watching developments in Hamberg as the G20 leaders meeting gets underway.

The key event of the day could be Donald Trump’s first meeting with Vladimir Putin.

Protectionism and climate change are high on the agenda, after Hamburg police broke up protests last night.

Analysts at RBC Capital Markets say:

Though unlikely to move markets, the G20 meeting is expected to have a major focus on trade after the removal of standard language about resisting trade protectionism at the previous finance ministers meeting in March.

Here’s the agenda:

• 8.30am: Halifax UK house price survey for June
• 9.30am: UK industrial production for May
• 9.30am: UK trade balance for May
• 1.30pm: US non-farm payroll for June