By Commodity News Service Canada
WINNIPEG, November 2 – The following is a glance at the news moving markets globally.
– The US private sector added 147,000 jobs in October, according to reports out of the country on Wednesday. The increase was below analyst expectations, which added some downward pressure to the US dollar. However, claims for the previous month were upwardly revised, which added support to ideas that the US Federal Reserve will increase interest rates before the end of the year. Fed officials are meeting this week, but are largely expected to keep rates steady ahead of the US presidential election.
– The US Energy Information Administration is expected to release its weekly petroleum status report today, which investors are looking to for support for the commodity. Crude oil futures were weaker in early activity as other industry groups have already said stockpiles have increased. Agriculture markets will be watching crude news given its connection to renewable fuel.