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The National Employment Report by payrolls processing firm ADP due later in the day could set the stage for the much anticipated U.S. non-farm payroll numbers on Friday.
The labor market would take time to heal from the effects of the pandemic and more is needed to be done for the economy to get fully back on track, U.S. Federal Reserve Governor Michelle Bowman said on Tuesday. San Francisco Fed President Mary Daly expressed similar views.
The dollar was pinned near recent lows against other currencies.
Dovish remarks last week by Jerome Powell, the chairman of the U.S. central bank, on interest rate hikes being “ways away” had sent gold rising more than 1% while the dollar slipped to a one-month low.
Gold Price Forecast: XAU/USD remains indecisive above $1,800
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CAPITAL IDEAS: Things are heating up - The Berkshire Edge
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Fed s Mary Daly Says Tapering of Bond Purchases May Start This Year
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