Daily digest market movers: Gold price traders await busy US economic calendar
- The US BLS revealed that the number of job openings in July tanked compared to June’s downward revised data via the JOLTS report. Vacancies dropped from 7.910 million to 7.673 million.
- In other data, Factory Orders for July exceeded estimates of 4.7%, climbed sharply to 5%, and crushed June’s -.3.3% contraction.
- US Business activity in the manufacturing sector improved but remained in contractionary territory.
- Private hiring, revealed by the ADP National Employment Change report, is foreseen increasing from 122K in July to 150K in August.
- August’s NFP figures are expected to rise from 114K to 163K, while the Unemployment Rate could dip, according to the consensus, from 4.3% to 4.2%.
- December 2024 Chicago Board of Trade (CBOT) fed funds future rates contract hints that investors are eyeing 106 basis points of Fed easing this year.
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