Article Summary:

Online Forex Trading News, Anlysis, Tips, Reviews, and Videos.Well folks, it loos like we have dodged a bullet this morning with the release of teh US NFP report which showed a gain of 117K jobs vs. an expectation of 85K.  As I have been saying all week, the bar had been lowered so it was not as great a hurdle to clear.  If [...]


Article Content:
Well folks, it loos like we have dodged a bullet this morning with the release of teh US NFP report which showed a gain of 117K jobs vs. an expectation of 85K.  As I have been saying all week, the bar had been lowered so it was not as great a hurdle to clear.  If you watch my video “Forex In Four”, you will see that I am on record at teh 6-minute mark calling for a gain of 125K!

Nevertheless, all signs pointed to lower jobs growth and while this number isn’t nearly good enough to become elated about the economy, at least its not getting worse.  After the major sell-off we’ve seen in the markets of late, this number is a welcome relief.   The unemployment rate actually ticked lower to 9.1%, but part of that is due to a reduced workforce.

The question though, is whether of not this enough to stop the bleeding and at this point I am not certain.  Because of the problems emanating from the Euro zone, it may be hard for investors to take risk into the weekend.

 

———————