Asian Session: Live Market Analysis
by Dr.S.Sivaraman
November 23, 05:00 GMT
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The new came out worst than expected, with the following readings
Non-Farm Employment Change Actual - 524 (Expected -520K Previous -533K)
Unemployment Rate Actual 7.2% (Expected 7.0% Previous 6.7%)
Previous month revision was also negative to -584K
Yet no definitions in market. Wait for two 15 minutes candles!
Canada usually releases the employment situation un hour before the U.S. and here are the numbers: the country lost more than expected, but less than previous month, and the unemployment rate increased more than expected to 6.6%. A mixed result but far from positive; why do I post this numbers? Because usually U.S. Payrolls come un line with this report, as both countries economys tend to move parallel.
Take your conclusions!
Employment Change Final -34.4K Expected -21.0K Previous -70.6K
Unemployment Rate Final 6.6% Expected 6.5% Previous 6.3%
The Canadian employment situation has been just published showing a deep fall in jobs, but a better than expected unemployment rate; Canadian dollar is falling not really hard, but falling. Well, usually Canadian data gives us a good advance of what to expect for the U.S report. Numbers tend to move in the same way in both countries, so in this half hour, we could anticipate what will probably happen with the major event of the day. Remember that the most important numbers to watch during the release are the number it self, the unemployment rate, and previous month revision. The three of them balance will be what define market moves.
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