Bringing together the very strong positive surprise in the ADP Employment Change figure, a downward trend in jobless claims, a better Employment Reading From The ISM manufacturing index, and a ratherkool steady reading from the Employment sub-gauge in the ISM Services Index Come to The Conclusion That the consensus
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European equity markets are set to finish Their last day before the holiday season in the Green, with better than expected U.S. jobless data sustaining the Santa rally. Nevertheless, sentiment Can Turn Very Quickly in a Market That is so engrossed with uncertainty. The risk-on sentiment ice Also being bolstered by
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Germany today was set to auction off? 6 billion in 10-year bonds. INSTEAD IT That missed the target by up to 35%, selling only, 3. 9 billion, at a yield of first 98%. The central bank stepped in and bought the Remaining bonds, hoping to sell it over coming days in a hope
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The market consensus is for the economy to Have added around 97K jobs for the month of October, with the Unemployment Rate Remaining at the 9th 1%. That Would come close to matching the figure We had in September, When the economy added 103K jobs.
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In what is a busy day of fundamental news, today’s United Kingdom macro releases painted a mixed picture, with a poor manufacturing PMI largely overshadowing Slightly better-than-expected reading from third-quarter GDP. The news and general risk aversion in the markets today left the pound weak Against U.S. dollar and Japanese yen, but
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The Asian session saw the AUD slide 20 points after the RBA minutes were more dovish That than expected. It hadeeth rebounded, only to cases 40 points after The Chine GDP data came in Below Expectations. But China did say there was little chance of a second dip for the countryside
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Financial markets heaved a sigh of relief as the latest EU crisis summit Passed a wave of New Measures to address the worsening sovereign debt crises. Amidst Measures Aimed at Supporting Greece Directly, including a Further € 109bn bail-out and Private Sector Involvement hoped to total around € 40bn, The Summit
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Dollar Light on Data, Heavy on QE3 and Downgrade Speculation
Some would consider this past week’s close a boon for the dollar because the selling pressure eased up into the close. In reality, the drop in volatility is neither beneficial nor detrimental to the currency.
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The Aussie Can track growth in China. If the economy is still humming along, the Aussie Can still be supported, Other wise, it Could be time for Further consolidation, or bearish correction. The Japanese yen stands to gain in the event of risk aversion (more so Than the USD at the
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‘Extremely disappointing’ Is About The Only Way to characterize U.S. June Employment Data. After a classic ADP-induced shift to more positive expectations on Thursday, Friday’s June NFP data showed an Increase of only +18 C (exp. +105 K) and private payrolls a gain of just +57 C (exp. +132 K). Worse still, the prior of
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