Dubai: Last week was heavy with events impacting the markets including a surprise interest rate decision by the European Central Bank (ECB), the G20 summit, and glum non-farm payrolls
data from the US.
The Tennessee Valley economy encompasses about $232 billion in gross product, $189 billion in personal income, 3.8 million in total non-farm payroll
employment, and 8.1 million in population.
Indian markets were anxious as rapid increases in non-farm payroll
data might lead to an increase in inflation.
But non-farm payroll
employment averaged 911,600, up 0.4%.
A Reuters poll forecast non-farm payroll
gains of 212,000 which would be its fifth month above 200,000.
"This follows today's dismal non-farm payroll
report which has raised expectations that the Federal Reserve will announce yet another programme of asset purchases at its meeting later this month," added Morrison.
The GDB-EAI showed that total non-farm payroll
employment for June 2014 averaged 918,800, an annual decrease of 1.2%, while total non-farm payroll
employment showed a 1.3% decrease in Fiscal 2014 with respect to Fiscal 2013.
The non-farm payroll
figure was far lower than analysts had expected.
central bank believed the slowdown in non-farm payroll
gains was "transitory," noting that "several other timely indicators of labor market conditions still look favorable."
Labor Department's jobs report, formally the Non-Farm Payroll
Report, the U.S.
rise 175,000 in Feb; jobless rate increases to 6.7% from 6.6%