US Private jobs disappoint, Friday Labor Department, EZ Services PMI falls
QUOTE: Managers expect thingsto stay the same.Leaders expect everything to change.
MARKET PULSE
Forecast US 225,000 jobs were added in Jul. – Report on Friday
ADP: US Private Companies added 185,000 jobs vs. a forecast of 215,000
US Service providers expanded in July at the fastest pace in 10Y
Fed Gov. Powell :”I will be attuned to employment before the next meeting”
Euro- Zone Services PMI falls to 54 from 54.4 in June; Year ago 54.2 (May 2015 low)
Gold assets in ETF shrank to the lowest since March 2009
Today: BOE publishes rate decision, minutes and inflation report
German govt : 3rd Greek deal can’t be by Aug. 20, bridge financing anticipated
Australia’s surge in hiring were overshadowed by a jump in unemployment
INDIAN INR
MARKETS
INR little changed to 63.7650 per dollar
INR 1-month forwards steady to 64.07 per dollar
1-month implied volatility rises 7 bps to 5.88%; avg for past 12 months is 6.6920%
USD/INR pivot at 63.8017;
USD/INR support at 63.6684, 63.5817 and 63.3617
USD/INR resistance at 63.8884, 64.0217 and 64.2417
USD/INR MACD close to converging to signal line
FACTORS
Global investors bought net $52.4m of Indian stocks on Aug 4
India’s leading stock index Sensex gained 0.5% yesterday
Indian exports, have contracted for seven successive months
ABN Amro: RBI is expected to lean against gains; INR 65 by end-2015
FOREIGN EXCHANGE
MARKETS
USD/JPY -0.11% at 124.73 (range 124.70-124.89)
EUR/USD +0.05% at 1.0912 (range 1.0898-1.0933)
AUD/USD -0.31% at 0.7333 (range 0.7322-0.7393)
NZD/USD +0.48% at 0.6542 (range 0.6507-0.6543)
USD/CAD -0.09% at 1.3165 (range 1.3157-1.3181)
GBP/USD +0.11% at 1.5620 (range 1.5597-1.5626)
USD/CHF -0.04% at 0.9787 (range 0.9772-0.9795)
FACTORS
Today: BOE publishes rate decision, minutes and inflation report
German govt : 3rd Greek deal can’t be by Aug. 20, bridge financing anticipated
Australia’s surge in hiring were overshadowed by a jump in unemployment
Forecast US 225,000 jobs were added in Jul. – Report on Friday
ADP: US Private Companies added 185,000 jobs vs. a forecast of 215,000
Brent and copper gain; gold declines
Euro- Zone Services PMI falls to 54 from 54.4 in June; Year ago 54.2 (May 2015 low)
GOLD
MARKETS
Gold spot was at $1,085.08 from $1,085.03 a day earlier
Gold Futures for December retreated 0.2 % to $1,084
China: Gold fell 0.2 % to 217.20 yuan/ gram ($1,087.92/ounce) on SGE
Silver spot at $14.5961 from $14.6002 a day earlier.
FACTORS
US Service providers expanded in July at the fastest pace in 10Y
Fed Gov. Powell :”I will be attuned to employment before the next meeting”
Gold assets in ETF shrank to the lowest since March 2009
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