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Global Markets: US sees jobs growth

By Commodity News Service Canada

WINNIPEG, Feb. 1 (CNS Canada) – The following is a glance at the news moving markets in Canada and globally.

– The US private sector added 246,000 jobs in January, according to the ADP National Employment Report. The job growth far surpassed the top end of economists’ expectations, and sets the stage for the official US Labor Department report out on Friday.

– Canada’s manufacturing sector saw a strong start in January, with the Markit Canada Manufacturing Purchasing Managers’ index rising to its highest levels in over two years. At 53.5, the index compares with 51.8 the previous month.

– The US Federal Reserve makes its latest interest rate decision on Wednesday. While the Fed is largely expected to hold steady, the new Donald Trump administration has brought considerable uncertainty to the financial markets.

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