LIVE MARKETS-Futures struggle for direction ahead of data-heavy day

 LIVE MARKETS-Futures struggle for direction ahead of data-heavy day
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European stocks look set to struggle for direction this morning, with futures on the Stoxx 50 flat, while neither FTSE 100 and DAX futures are veering much either side of that.

The market is waiting for U.S. nonfarm payrolls data later in the session. They are expected to show November job growth slowed to its smallest in nearly two years as mounting worries of a recession cooled demand for workers.

This could give the Federal Reserve confidence to start slowing the pace of its interest rate hikes this month - potentially lending more support to the recent equity rally.

The pan-European index remains on its way to clock up seven weeks of consecutive gains.

Euro area October PPI will give a read on inflation later this morning. Data out of Germany already showed exports fell more than forecast in October as soaring inflation, waning foreign demand and strained supply chains raise the spectre of recession in Europe's largest economy this winter.

(Lucy Raitano)



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