U.S. equity futures opened modestly higher on March 7, 2025, despite ongoing pressure on the U.S. dollar, which dipped to 103.60 ahead of the upcoming jobs report and Federal Reserve Chair Jerome Powell's speech. The European markets are experiencing a downturn, with European bourses mostly lower, although the euro remains resilient, buoyed by expectations surrounding the European Central Bank (ECB) and a less restrictive policy indicated by ECB President Christine Lagarde. The dollar's decline is notable against most G10 currencies, while the Canadian dollar and Australian dollar also experienced weakness amid risk aversion. Investors are focusing on February's U.S. jobs report as the primary highlight, with the Atlanta Fed's GDP tracker projecting a 2.4% contraction in Q1 2025. The bond market is also reacting, with U.S. Treasury yields awaiting further direction from the jobs data and Powell's comments.