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Surprise surprise

Posted on September 5, 2008 at 12:38 in Uncategorized by Valeria Bednarik

The Non farm payrolls print awful numbers for the U.S.: the unemployment rate rise to 6.1%, the economy lost more jobs than expected, and previous month number was also revised to the downside. However, majors are unable to fight against dollar bulls: Follow this 15 minutes candle both, in euro and Gbp. A break of the minimum or the maximum, could confirm a continuation yet due to general sentiment, don’t expect majors to rise even after these numbers.

2 Responses to “Surprise surprise”

on 05 Sep 2008 at 3:05 pm1Dr. S. Sivaraman

Dear Val
it appears like there are not much orders in the market.USD/YEN dropped very big soon after data and then rised back all along.Then EURO and GBP rised and come off in 1 hr and holding mid levels.traders are afraid to enter into the market it appears because of frequent surprises- what you feel?
on 05 Sep 2008 at 3:57 pm2Valeria Bednarik

Hi Dr. Sivaraman, good to see you here. I’m having troubles with the internet conexion (one of the “advantages” of living in the third world)yet as you say, not much accion despite the really bad readings in the U.S employment data. Both euro and Japanese yen are back at the beginning, and I find trading quite choppy today, as market players seems to be doubting wheter a correction against dollar is posible. Japanese yen is playing another game as we use to say here: seems the carry traders had found an interesting level to buy and the pair is again pointing up, with next resistance level around 107.20.

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