In the run-up to the payrolls report, overnight data showed that US private sector employment rose much more than expected to 281,000 jobs in June, fueling hopes that the American economy is gathering pace after a weak start to the year. The nonfarm payrolls, meanwhile, is expected to show an addition of 215,000 jobs in June, compared to 217,000 jobs a month earlier. The unemployment rate is expected to remain at 6.3%.
Besides the all-important jobs data, PMI data from major European economies, a report on Eurozone retail sales and US reports on weekly jobless claims, international trade and service sector activity may influence investor sentiment as the day progresses.
The Asian markets are turning in a mixed performance as caution set in ahead of the US payrolls report due out later in the day. Data out of
The Australian dollar lost ground as the country's central bank governor said the currency exchange rate was far too high. The safe-haven Japanese yen eased slightly and gold slipped to hover below a three-month high while Brent crude prices eased further to fall to a three-week low on easing concerns about the Iraqi crisis and amid prospects for increased exports from
In corporate news,
Russian state oil company OAO Rosneft has submitted a deal to buy an oil trading unit of
The major European markets closed mixed on Wednesday as investors remained nervous about ongoing tensions in
US stocks ended narrowly mixed showing little change overnight, though the Dow and the S&P 500 set fresh record closing highs as investors digested a positive reading on private sector employment.
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