Australian Consumer Sentiment Jumps 6% in August as Rate Outlook Improves 
Trump Imposes New Tariffs on Drone Imports Over US Security Concerns 
Foreign U.S. Treasury Holdings Fall as Japan, UK and China Cut Positions 
Oil Prices Rise as U.S.-Iran Tensions Grip Strait of Hormuz 
Oil Prices Rise as Iran-U.S. Tensions Threaten Strait of Hormuz Supply 
Wall Street Falls as Oil Prices Rise, Fed Minutes and Retail Earnings in Focus 
Morgan Stanley Sees Fed Holding Rates as U.S. Inflation Cools 
Asian Stocks Steady as Iran War Keeps Oil Prices and Inflation Risks Elevated 
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Today ADP employment numbers were released from US for the month of February.
ADP number shows the US labor markets are showing a lot of volatility lately.
There are two things to note in the headline that,
- January begins solid.
- January payroll got a revision. It has now revised to 261,000 (up from 246,000).
Key highlights –
- Non-farm private sector employment grew at 298,000 in February, the median expectation was for 190,000.
- Small business sector hiring at 104,000, compared to 62,000 last month.
- Employment in franchise increased to 17,100 compared to last month’s 23,300.
- Mid-sized companies added 122,000 jobs compared to last month’s 102,000 jobs.
- Large sector added just 72,000 compared to last month’s 83,000 jobs.
- Manufacturing sector payroll registered 32,000 jobs gains compared to 15,000 job gain last month.
- 106,000 jobs were gained in goods producing sector, compared to last month’s 46,000 jobs gains.
- Construction sector saw 66,000 jobs gains, compared to last month’s 25,000 jobs gain.
- Services sector employment remains robust as payroll added 193,000 people in February. January gains were 201,000.
Dollar index is currently trading at 102.15, up by 0.3% for the day so far. Remember the focus is on election in Europe, but another massive hit for the dollar.
