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US stock markets have opened up lower on the day as investors struggle to find fresh catalysts to extend their buying of stocks. The latest ADP private payrolls report just released Stateside also disappointed, with gains of 307k versus the expected 410k. With the weekly initial jobless claims and ISM employment also recently showing weakness, there are numerous signals pointing to a fading labour market – will this mean further bad news on Friday’s much anticipated non-farm payrolls?Consolidation after big market moves is no bad thing, as we consistently say, and boy, could dollar bulls... Read More
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