EU stocks steady before US jobs report

European stock markets steadied Friday following strong gains the previous session, as traders awaited key US jobs data.

The dollar was mixed against main rivals ahead of the monthly employment figures due later in the day.

“This economic reading commands the most attention among investors and traders as the... data not only sets the trading tone for today but it also influences it for the rest of the month,” noted Naeem Aslam, chief market analyst at AvaTrade.

“As always, the Fed will watch this data very closely, and it is highly

likely to influence their monetary policy.”

The Federal Reserve is shortly expected to announce when it plans to begin withdrawing its huge financial support measures put in place at the start of the pandemic.

The US central bank has indicated it will begin tapering by the end of the year but has not elaborated by noting by how fast it intends to go.

The release of non-farm jobs figures Friday could be crucial in determining the timetable, with a strong showing ramping up expectations it will kick off next month.

Analysts said the attention will then turn to when officials begin to lift interest rates.

Surging inflation worldwide -- made worse by rocketing energy prices -- is adding pressure on the Fed to act sooner rather than later.