Daily digest market movers: Gold price surges ahead of US NFP data
- Figures of the ADP National Employment Change showed that private companies hired fewer people than expected, adding just 99K in August, well beneath the 145K expected and downwardly revised July figures.
- Initial Jobless Claims for the week ending August 31, hit 227K, below the 230K projected and the previous 232K.
- ISM Services Purchasing Managers Index (PMI), a measure of business activity, improved. The index hit 51.5 vs 51.4 in July and above the 51.1 projected by the consensus.
- 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%.
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