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Sunday, 7 August 2016

Strong US jobs report

Strong US jobs report suggests possibility of rate hike this year: Payrolls in the United States rose by 255k jobs in July, according to the US Bureau of Labor Statistics on Friday, beating expectations by economists polled by Reuters by 75k jobs. The unemployment rate remain unchanged at 4.9%. “The July jobs report was everything you could have asked for and more. Provided the strength in jobs is confirmed with other economic data, the Fed will have sufficient reason to hike (rates) this year,” said Michelle Meyer, a senior economist at Bank of America Merrill Lynch in New York speaking to Reuters.

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