President Barack Obama addressed an audience of several hundred people at Northwestern University in Evanston, Ill., on Thursday, where he struck a positive tone as he applauded America’s economic progress and expressed his confidence in its position as the world’s leading nation.
As with the earlier ADP report, the report makes for curious reading. The Production reading added a tad to 64.6 indicating still robust manufacturing activity. However, the pace of New Orders fell at the fastest pace since January
The greenback pared gains amid speculation it gained too much, too fast, and as U.S. Treasury yields fell. The currency jumped earlier as a private report showed U.S. companies added more than 200,000 workers for a sixth month.
Treasuries fell, pushing 10-year note yields up from the lowest level in three weeks, amid speculation a strengthening employment market will keep the Federal Reserve on track to raise rates next year.