Online Broadband Guide
Online Broadband Guide


Gold His 4-Week Highs After Lousy Jobs Report

The dollar.DXY was firmer against a basket of currencies.The ADP National Employment Report showed private payrolls increased by 253,000 jobs last month, beating economists' expectations for a gain of 185,000 jobs.

The report said non-farm payroll employment rose by 138,000 jobs in May after climbing by a downwardly revised 174,000 jobs in April.

The U.S. labor market gave mixed signals in May, with a decline in the unemployment rate to a 16-year low contrasting with below-forecast hiring and wage growth, Labor Department figures showed Friday. If there's a developing shortage of labor that makes it harder for employers to fill vacancies, that would mean slower payroll gains, along with a declining unemployment rate and faster wage growth, according to Ward McCarthy, chief financial economist at Jefferies LLC in NY.

In a third report on Thursday, the Labor Department said initial claims for state unemployment benefits jumped 13,000 to a seasonally adjusted 248,000 for the week ended May 27.

Against the yen JPY=, the dollar fell to two week lows and last changed hands at 110.44 yen, down 0.8 percent.

According to a Reuters survey of economists, payrolls likely increased by 185,000 jobs in May.

That helped the dollar recover in the foreign exchange market, although traders also said concerns about U.S. politics could be capping its gains.

A stronger dollar and broadly buoyant global stock markets dented appetite for safe-haven gold, which hit its lowest levels in a week. March nonfarm payroll growth came down to 50,000 from 79.000. They also forecast wage growth hovering around 2.6% - a slightly better rate of growth compared to recent years, even though it's still considered sluggish.

MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS ticked up 0.1 percent, while Japan's Nikkei .N225 gained 1 percent to top the psychologically important 20,000-point level for the first time since August 2015. Both later trimmed gains closed the day higher.

Global benchmark Brent crude futures fell to $49.63 a barrel, while U.S. West Texas Intermediate crude by more than a dollar to $47.36 per barrel.

For metropolitan areas in April, the agency says Ames, Iowa, and Boulder, Colo., had the lowest unemployment rates, at 1.7 percent and 1.8 percent, respectively.

"Labor shortages are quickly becoming businesses' number one problem, and that problem is only going to get worse", said Zandi, who expects that the government's 4.4 percent unemployment rate could soon fall below 4 percent.

USA companies in May hired more workers than anticipated by a wide margin to rebound from a six-month low in the prior month, while a tightening labor market should point to increasing wage growth.

Check out the full rundown on the USA jobs report here.

follow

editors' picks

June 02, 2017
Ex-FBI director Comey to testify on Russian Federation probe next week
He is expected to be questioned about reports that Trump tried several times to convince him to back off of the investigation. In response, Trump has repeatedly denied any collusions between his campaign and Russian Federation .

June 02, 2017
Nissan, Ford report May US sales gains, GM down
Following the transaction, the insider now owns 292,815 shares of the company's stock, valued at approximately $3,698,253.45. It fall, as 77 investors sold F shares while 407 reduced holdings. 128 funds opened positions while 277 raised stakes.

May 31, 2017
7 reasons why Indo-Pak cricket series won't happen in future
Goel made it clear that the government will not give its nod till the time "cross-border terrorism" does not stop. However, he said that they have no say in both the teams playing against each other in worldwide competitions.

May 31, 2017
Senate issues subpoenas targeting Michael Flynn's businesses
The conversations focused on Paul Manafort , the Trump campaign chairman at the time , and Michael T. Page has denied any involvement in Russian attempts to influence the election.

May 31, 2017
Harper suspended 4 games, Strickland suspended 6 games after brawl
That his HBP ultimately scored a run was maybe the most literal earned run of all time. "It looked like it was intentional to me". It won't be Strickland, because relief pitchers nearly never bat, and he certainly won't, which Strickland of course knows.

May 30, 2017
Bella Hadid suffers major wardrobe malfunction at Cannes Film Festival
In my house, Netflix has been nothing but an absolute benefit, because they get to watch films that they never even would've seen. Deepika Padukone may have stunned everyone with her second outing on Thursday, but she wasn't the only one to do so.

May 29, 2017
James passes Jordan, Cavs back in Finals with 135-102 win
The Cavs set a playoff franchise record with 43 points in the first quarter and 75 points in the first half. In the video above, watch a recap of the Cleveland Cavaliers Game 4 win over the Boston Celtics .

May 29, 2017
Lue: Cavs' Irving feeling 'good' after Game 4 ankle injury
A win and LeBron James goes to his seventh straight finals and the Cavs will see a team that is 12-0 in these playoffs. His glass munching and timely deflections were key in slowing down Boston as the game got within striking distance.

May 29, 2017
UFC fighter celebrates KO victory by proposing to girlfriend
It was a stunning display from start to finish, as Gustafsson had clearly scouted Teixeira thoroughly. Both Gustafsson and Teixeira have fought for the light heavyweight title and have lost.

May 29, 2017
Trump won't move US Embassy to Jerusalem for now, senior official says
It will be a topic that's going to be discussed during the President's trip between the parties that he meets with. Such a decision, Arab leaders say, would inflame the Arab street and could lead to an increase in extremism.