Higher Than Expected ADP Figures

Gold was down on Thursday morning in Asia, remaining flat as the dollar remained near a one-year high. Investors also kept moves small, with the latest U.S. jobs report due later in the week.

The yield on benchmark 10-year U.S. Treasuries eased off a more than three-month high overnight but remained above the 1.5% mark.

On the data front, the U.S. ADP non-farm employment change for September was a higher-than-expected 568,000. Subsiding numbers of COVID-19 cases boosted high-contact activity such as dining out at restaurants and travel.

Investors now await the jobs report, including non-farm payrolls, due on Friday to glean clues about the U.S. Federal Reserve’s timeline to begin asset tapering.

Thursday 7th October – High Impact Events

The times below are GMT+3

  • 15.30 – US – Unemployment Claims

Potential instruments to Trade: USD Crosses.

  • 17.00 – Canada – Ivey PMI

Potential instruments to Trade: CAD Crosses.

  • 19.00 – Canada – BOC Gov. Macklem Speaks

Potential instruments to Trade: CAD Crosses.

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