Is Jobs Data Losing Fed Path Influence?
Gold headed for a second weekly advance as investors focus on a key jobs report in the U.S. due Friday, following Thursday’s Bank of England stimulus package that included its first interest-rate cut in seven years. The payrolls data will be watched for clues on the timing for the next rate rise by the Federal Open Market Committee. After a report on July 29 showed second-quarter gross domestic product rose less than forecast, the focus will be on the strength of the labor market. Subdued growth will force the Fed to keep rates steady in 2016, with a single hike seen in 2017, according to BMI Research, which raised its 2017 price outlook by $50 to $1,400. BNP Paribas Senior Investment Strategist Daniel Morris discusses with "On the Move" hosts Anna Edwards in London and Caroline Hyde in Berlin.
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25:34 - Guests include: Alibaba's Jack Ma, Apple CEO Tim Cook, Microsoft founder Bill Gates, PepsiCo CEO Indra Nooyi, Dangote Industries CEO Aliko Dangote and Softbank Group CEO Masayoshi Son. (Source: Bloomberg)