August's US Employment Report Set to Ignite Market Action

The US employment report for August is set to dominate market attention today, as investors await the release of key figures that will inform the Federal Reserve's interest rate decision.

The National Federation of Independent Business (NFP) figure is expected to recover modestly from its drop into negatives in July, reaching 56k, while the unemployment rate is anticipated to remain unchanged at 4.1%.

A stronger-than-expected tightening of the US employment market could boost expectations for a monetary policy tightening by the Fed, supporting the US dollar and weighing on gold's price and US equities.