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U.S. non-farm private employment rose less than expected in July, dampening optimism over the strength of the economy and fanning hopes that the Federal Reserve could delay raising interest rates until the very end of 2015. The monthly non-farm payroll was reduced to 215,000 in July, which was lower than the revised 231,000 in June. Unemployment rate was at 5.3 per cent, unchanged from June. The Institute for Supply Management services sector index rose to 60.3 in July, making it the highest reading recorded since August 2005. The U.S. trade deficit widened more than expected in June, as exports edged down 0.1% and imports rose 1.2%. In a report, the U.S. Bureau of Economic Analysis said that the U.S. trade deficit rose to a seasonally adjusted $43.84 billion in June from a deficit of $40.94 billion in May, whose figure was revised from a previously reported deficit of $40.7 billion. The Bank of Japan kept its monetary policy steady and pledged to maintain its yearly monetary expansion at 80 trillion yen. Policymakers are upbeat about the ongoing growth and target an inflation of two per cent without additional monetary stimulus. U.S. natural gas storage rose less-than-expected last week. In a report, Energy Information Administration said that U.S. natural gas storage rose to a seasonally adjusted annual rate of 32B, from 52B in the preceding week. The Bank of England kept its benchmark interest rate unchanged in August and announced no change to its asset purchase facility program. The BOE said it was holding the benchmark interest rate at 0.50%, in a widely expected move. The rate has been held at that level since March 2009. U.S. crude oil inventories fell more-than-expected last week. In a report, Energy Information Administration said that U.S. Crude Oil Inventories fell to a seasonally adjusted annual rate of -4.407M, from -4.203M in the preceding week. In a report, the U.S. Department of Labor said the number of individuals filing for initial jobless benefits in the week ending August 1 rose by 3,000 to a seasonally adjusted 270,000 from the previous week's total of 267,000. In a report, payroll processing firm ADP said non-farm private employment rose by a seasonally adjusted 185,000 last month, below expectations for an increase of 215,000. The economy created 229,000 jobs in June, whose figure was downwardly revised from a previously reported increase of 237,000. Service sector activity in the U.S. grew at the fastest pace since August 2005 in July, boosting optimism over the health of the economy and supporting the case for a rate hike in September. In a report, the Institute of Supply Management said its non-manufacturing purchasing manager's index rose 60.3 last month from 56.0 in June, above forecasts for a reading of 56.2. Markit reported that Germany's final manufacturing PMI was at 51.8, maintaining its recovery pace in July. In a separate report, industrial output dropped 1.4 per cent in June against revised 0.2 per cent gains in May. In another report by Markit, final service PMI in the Eurozone grew to 54 in July, matching forecast. Germany stayed on track at 53.8 reading in services, retaining its growth.

Week Ahead: ZINC (BUY) Moves by Chinese authorities to help shore up growth are expected to limit losses for industrial metals. China's central bank said during the past week that it was aiming to lower borrowing costs for firms and support key areas and vulnerable sectors. Economists expect the central bank to cut rates by another 25 basis points this year, and further reduce the amount of deposits banks must hold as reserves by another 100 basis points, according to a Reuters poll last month. The string of policy loosening steps should help the world's second-largest economy expand 7 percent this year, the poll showed, though the outlook for 2016 is expected to worsen slightly