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Topic Summary

Posted by: pikky huk
« on: August 10, 2020, 09:47:36 AM »

US July "small non-agricultural" falls short of expectations
Event review: The number of ADP employed in the United States in July was 167,000, far below the expected 1.5 million. The previous value was revised up from 2.369 million to 4.314 million.
Market impact: Gold prices continue to rise after a short-term retracement
Event analysis:
(1) Vice President of ADP Employment Data Corporation: The recovery of the job market slowed down in July, and the economic slowdown has already seen an impact on companies of all sizes and industries
(2) According to the weekly Household Pulse survey released by the Census Bureau last Wednesday, from mid-June to mid-July, the number of U.S. employment fell by approximately 6.7 million, including a plunge of 4.1 million from the first week to the second week of July. It is a fact that the recovery of the US job market has slowed down
(3) According to market news, Trump said that Friday will release very "large" employment data, and that the United States is moving towards a strong V-shaped recovery (this is not the first time Trump has "predicted" a strong non-profit Agricultural data)
(4) ABN AMRO stated that if the July non-agricultural employment report released on Friday is also worse than expected, it is expected that U.S. bond yields will hit a record low; gold will gain a certain upward momentum

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