The
October US labour market added impressive 171k non-farm jobs versus an expected
125k in the final employment report before the November elections. The US dollar
gained sharply against all major counterparts, especially the Japanese Yen and
gold as signs of an improving economy start to erode expectations for more
incentives from the Federal Reserve.
October’s PMI for manufacturing in the Euro-zone marked the
fifteenth consecutive month of decline in sector activity. However, the 45.4 PMI
outcomes were better than a previous estimate of 45.3, but that did not prevent
the Euro from falling on the report.
The only other news in the session was out of China, where the
PBOC released its quarterly monetary report. The PBOC said the economy is likely
to keep stable with relatively fast growth, despite the fact that they see a
slowing pace of global economic recovery.
No comments:
Post a Comment