Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
The US Treasuries traded nearly flat across the curve amidst a relatively quiet Tuesday session that saw data of little significance. The yield on the benchmark 10-year Treasury note hovered around 1.58 percent mark and the yield on short-term 2-year note remained steady at 0.73 percent by 11:40 GMT.
Last week, the July US Labour Department employment situation report revealed a considerable +255k increase in non-farm payrolls, which comes well above market expectations for a +180k increase, as compared to the revised +292k result that occurred in June (previous was +287k). This comes alongside no change in the unemployment rate at 4.9 percent, above expectations for a 4.8 percent result.
We expect that it is likely to be difficult for the investors to find any dovishness in this report, keeping alive September 21 Fed hike expectations (Bloomberg’s implied probability is at 26 percent).
In terms of data, markets now look ahead to NFIB small business optimism, non-farm productivity/unit labor costs and wholesale inventories data on Tuesday, followed by a 3-year note auction later in the session.
Meanwhile, the S&P 500 Futures traded 2.50 points higher at 2,178 by 11:40 GMT.
