Economic data released last week was generally encouraging. In the US, manufacturing PMI, pending home sales and jobless claims beat market expectations. Meanwhile, less-than-expected decline in August non-farm payrolls and upward revisions in July’s employment eased concerns about a double-dip recession. Risk appetite increased across the board and oil and base metal prices strengthened. Gold lost its appeal as a safe-haven as investors sought for higher-yield assets.
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Weekly Fundamentals: Strong Employment Data Buoys Sentiment, Eases Worries over Double-Dip Recession
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