US Market Update – The U.S. jobs report disappointed with a lean 138k May payroll rise after 66k in downward revisions, while he jobless rate fell a tenth to 4.3%, while hourly earnings picked up 0.2%, as expected. The trade deficit meanwhile, widened more than anticipated. The dollar fell broadly following the employment report. Gold was the big beneficiary, since it rallied to five-week highs of $1,276.20 from near $1,262.00, largely as the dollar took a nose-dive, and as pre-weekend short covering steps in.
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