AnandRathi Commodities Research has come out with its report on Gold. According to research firm, gold is expected to be modestly squeezed even if the data prints in line with market expectations as this would indicate the steady progress being made in the labour sector.
The short-term high for rupee could be 57/USD if the NFP data is lower than expectations and the rupee may settle at 56/USD by June end.
Mecklai graph of the day: US companies added more jobs in December than forecast ending 2012 on a higher note. The number of workers employed in the month rose by 155,000.
Mecklai graph of the day: The NFP will be a key piece of data as QE3 was announced in the month of September and also because elections are just over a month away now.
Mecklai graph of the day: NFP being one of the most vital data points for employment change in the U.S also gives direction for consumer spending as discretionary incomes in the hands of employees is of substance here.
Mecklai graph of the day - The ADP (Automatic Data Processing Inc) released its private payrolls change report on Wednesday, which measures the estimated change in the number of employed people in the US excluding the farming industry and government.
Mecklai graph of the day - Markets are waiting for the crucial NFP data, which is scheduled to be released later today in the US session. The NFP data shows the current health of US employment.