Indian Markets are expected to open flat tracking SGX Nifty.
Equity markets and U.S. dollar traded lower Friday while gold soared higher on the heels of release of Employment report key piece of employment data that Fed considers for monetary policy. The report showed that U.S. economy created fewest jobs in more than 5 years in May as employment in manufacturing mining and construction sectors fell sharply. Payrolls only increased by 38000 jobs last month below the consensus forecast of 164000.
Majority of European markets ended Friday session in negative territory after the U.S. job growth for May came in weaker than anticipated. FTSE also gave up its earlier gains but ended in positive territory as European markets took hammering following the dismal economic update from America. CIPS services purchasing managers index (PMI) showed a reading of 53.5 in May up from 52.3 in April when activity rose at its slowest pace for over 3 years. A reading above 50 signals growth. M

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