Welcome to illuminati silver, we tell you the truth about silver.
Today is Wednesday 5th October 2016 and we are briefly looking at signs which indicate
a possibly disappointing Non-farm payroll Report on Friday.
Private-sector employment slowed a little in September, according to data released this
morning.
According to Automatic Data Processing Inc.
Employers added 154,000 private-sector jobs last month, down from 175,000 in August,.
This is the smallest increase since April.
This increase was below expectations.
Economists polled by Econoday had forecast a September gain of 170,000 jobs compared
with an original estimate of 177,000 for August.
It shows that small private-sector businesses added 34,000 jobs in September, medium businesses
added 56,000 jobs and large businesses added 64,000 jobs.
Most of those gains were in the service sector—151,000 jobs added there, compared with 3,000 for
goods producers.
This was supported by a report from the Institute of Supply Management which showed activity
in the US services sector witnessing a big rebound in September, after having slowed
to more than a six-year low in the previous month.
Manufacturing however lost 6,000 jobs in September.
Mark Zandi, chief economist of Moody’s Analytics, which prepares the report using ADP’s data,
said “job growth should be expected to slow as the U.S. nears full employment.”
While analysts said the figure does not necessarily track the nonfarm payrolls report due on Friday,
any change in momentum for the ADP data could be significant.
Economists polled by MarketWatch expect the government’s report for September to show
that nonfarm payroll accelerated to 169,000 jobs, a little better than the 151,000 in
the prior month.
However we suspect that the markets sense the jobs data will be disappointing on Friday
as Wall Street rose after two days of losses partly because of the Report and after a surge
in oil prices helped the energy sector.
Oil prices rose above $52 today with Brent Crude closing at $51.76 and US Crude at $49.83
- a level not seen since June - after data showed a bigger-than-expected drop in US crude
inventories.
Disappointing labour figures will mean a delay of any rise in interest rates and that is
positive for stock markets.
So what about gold and silver we hear you ask.
Well our thoughts are that current prices offer good value if you are light in your
portfolio.
If you have plenty then perhaps it’s worth waiting for the results in case we are wrong
and they are better than expected and gold and silver prices fall further.
However we believe at best they will be neutral or disappointing and that should support gold
and silver prices, which we see rising in any case as the election in November looms.
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Disclaimer:
Illuminati Silver owners come from a background of Banking, International Wealth Management
and Economics.
Having now retired from these worlds we are not qualified to give investment advice.
Therefore, this and other productions must not be deemed to be giving such advice and
merely represent the personal views of its owners.