US consumer tracker ahead of this afternoon s Univ Mich data biztoc.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from biztoc.com Daily Mail and Mail on Sunday newspapers.
Friday s gains in gold were driven mainly by a dip in the US yields, especially long-term yields, which in turn were driven by month-end rebalancing of treasuries as investors focused on next week s supply and demand dynamics.
US releases. The US session yesterday saw the release of the monthly JOLTS job opening statistics which showed a sharp decline from 9.2m in June to 8.8m in July. This is a clear indication that demand for labour is beginning to level off and that wage growth pressures are easing with the JOLTS report having many coinciding features with other US labour market compensation measures. Hence the release should be encouraging news for the Federal Reserve as it suggests that the last years' monetary tightening is beginning to feed through to the labour market. We will get the important non-farm payrolls report on Friday.
The final week of April presents plenty of data for traders to chew on, with inflation data for the US and potentially Australia taking centre stage. The BOJ’s new Governor Ueda also holds his first meeting. Whilst it’s likely to not be a live event, traders would be wise to remember to never drop their guard when it comes to the central bank who likes to surprise. We also have the advance read for Q1 GDP, amongst a plethora of business sentiment reports to chew on.