The US Unemployment Rate Report

The US economy is expected to have produced fewer jobs in August from the previous month.

At 12:30 GMT this Friday, the US Bureau of Labor Statistics and Labour Department will release the NFP data and unemployment rate reports respectively.

Economists expect the number of people employed during the previous month to have increased by 160,000 compared July’s statistics.

The unemployment rate for August is forecasted to remain at 3.7%.

On the other hand, wages are expected to have increased by 0.3% in August, but to fall slightly to 3.1% year on year.

Crude Oil Futures Rose During The Asian Session

Crude oil futures increased during the Asian trading session this Friday.

Crude Oil futures for October delivery rose by 0.23% to $56.43 a barrel on the New York Mercantile Exchange.

Earlier, the barrel was trading in a bullish dollar session as crude oil found support at $52.84 and resistance at $57.72.

The US Dollar Futures Index remained steady at $98,385 against the six other major currencies.

Elsewhere on ICE, Brent oil for delivery in November gained by 0.13% and traded at $61.03 a barrel.

Gold Prices Dropped

Gold prices dropped this morning after the US and China indicated that they would resume negotiations in October.

Gold futures for delivery in December dropped by 0.08% to $1,526.75 per troy ounce on the New York Mercantile Exchange.

Separately on the Comex division, Silver for delivery in December also fell by 0.93% to $18.633 per troy ounce while Copper for delivery in December slipped by 0.19% to trade at $2.626 per pound.

Financial Events to watch for today

12:30 GMT
Nonfarm Payrolls (Aug) [US]
12:30 GMT
Unemployment Rate (Aug) [US]
16:30 GMT
Fed Chair Powell Speaks [US]