Private sector employment increased by 177K jobs in August and annual pay increased by 5.9, according to the August ADP National Employment ReportTM produced by the ADP Research Institute in collaboration with the Stanford Digital Economy Lab Stanford Lab.

This is the latest indication that the labour market is finally cooling, though it still remains too tight. So far, the U.S. labour market is absorbing the effect of 525 basis points worth of interest rate increases from the Federal Reserve since March 2022.

Source httpswww.reuters.commarketsususprivatepayrollsgrowthslowssharplyaugustadp20230830

The U.S. Gross Domestic Product GDP increased at an annualised pace of 2.1 AprilJune quarter, according to data from the second GDP estimate. A revision of the 2.4 growth rate estimate was reported last month.

Source httpswww.reuters.commarketscurrenciesrupeerisedollarextendslossesusgdpgrowthrevision20230831

Winners vs Losers

Metals are still on top of the weeks winners list. Gold has 1.58 gains and Silver 1.12.
USDCAD and USDJPY are still leading this month with 2.66 and 2.55 respectively. 

News Reports Monitor Previous Trading Day 30 August 2023

Server Time Timezone EEST UTC 0300

Midnight Night Session Asian

The latest Consumer Price Index CPI figures, released by the Australian Bureau of Statistics, showed the annual inflation at 4.9 in July, down from 5.4 in June. The market reacted with AUD…

Leave A Comment