Private sector hiring in the US continued to show solid gains in March suggesting that the momentum in the US labor markets was robust despite economic headwinds. According to data released by the ADP yesterday, payrolls in the country increased by 200k in the month of March beating market forecasts of 195,000. February's print was revised down to 205k from the initially reported 214k. The March private payrolls remained consistent with the average monthly job growth over the past years. While services contributed the most to the monthly report, the manufacturing sector added only 3,000 jobs, following a sector-wide layoff of nearly 9,000 jobs in the previous month. Gold prices retreated yesterday erasing the gains from the previous day after Janet Yellen’s dovish remarks sent the Dollar weaker.
US Oil Inventory Up – Again, Oil Futures Decline
Daily Analysis - 31/03/2016