US Payrolls Raise Likelihood of Fed Funds Rate Hike in June

Gold recovered modestly in Asia session Monday, following last Friday’s -2.7% selloff on a stronger USD induced by payroll data. Crude oil remained under pressure amidst concerns that Fed’s tightening later in the year would dampen growth momentum, hence exacerbating the demand outlook. US payrolls rose +295K in February, well above expectations of 240K ahead of expectations…

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US Payrolls Raise Likelihood of Fed Funds Rate Hike in June