Friday, April 4, 2014
Yesterday’s ISM Non-Manufacturing PMI result of 53.1 was close to forecasts of 53.5.
Yesterday’s ISM Non-Manufacturing PMI result of 53.1 was close to
forecasts of 53.5. This figure indicates that the non-manufacturing
sector of the economy is generally expanding. The metals markets are
trading on the upside early this
morning ahead of the NFP and unemployment numbers. Nonfarm Payroll
numbers for March are up 192,000 vs. expectations of 200,000 and the
unemployment rate remains at 6.7%. We saw gold break above 1300 on the
screens amid the weaker than expected jobs report
and slightly come off moments later. Gold and silver are trading on the
upside as weaker than forecasted economic data signals that perhaps the
Fed won’t hike rates earlier than expected. Have a wonderful weekend!
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment