Jobs figures announced south of the border on Friday disappointed economists on the whole. Although 230,000 new positions were forecast for August, only 142,000 were actually created. Despite this lacklustre performance, the S&P 500 gained 0.5% for the last trading day of the week, as investors anticipated that this poor reading could force the Fed to put off raising its key rate.
Across the Atlantic, the pound sterling has been in freefall since July 2, shedding more than 18% against the greenback, due in large part to the potential for Scotland to separate from the United Kingdom. A recent poll placed the separatists ahead in voting intentions for the first time in the campaign, with the referendum organized by the Scottish National Party to be held on September 18.
Today, Building Permits will be announced in Canada and Consumer Credit is on deck in the United States. Have a great week!
