Major nerves over minor economic data tomorrow

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Higher than expected ADP jobs numbers raise worries over Friday’s government jobs data–and a Fed taper decision on December 18

Higher than expected ADP jobs numbers raise worries over Friday’s government jobs data–and a Fed taper decision on December 18

Today’s private company jobs survey from ADP, showing a gain of 215,000 jobs in November, has raised worries that the official U.S. government jobs numbers due on Friday will be stronger than expected and lead the Federal Reserve to begin tapering off its $85 billion a month in asset purchases at its December 18 meeting

Yen, oil, gold all fall on Iran news

The news on Iran has led to selling of Japanese yen, oil, and gold as investors and traders have decided that the world isn’t as risky a place as it was just a few days ago. The Japanese yen, the world’s favorite safe haven currency, fell 0.45% against the dollar to 101.71. West Texas Intermediate fell 0.89% to $94 a barrel and gold declined 0.17% to $1242 an ounce.

Solving the puzzle of the current market

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