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This morning’s non-farm payrolls report is eliciting smiles across Wall Street as the hemorrhaging of jobs comes to an end. Only 345k Americans lost their jobs last month, signaling that the recession is over. Although the jobless rate breached 9% for the first time since 1983, hitting a 25 year high of 9.4 percent, there is no question that the labor market has hit a bottom. Most companies are done with layoffs and this figure reflects that. It should be a good day for stocks and a bad day for the U.S. dollar. The currencies and equities correlation will be in full force today as risk appetite drives flows.
Source: fx360.com
It should be a good day for stocks and a bad day for the U.S. dollar
why is that
and the market didn’t behave like that
the dollar rised and DJ went down
I beleive the the increase in the treasury rate might have been a huge factor… The big boy took the opportunity to lock into some of the great government backed interest rate. Also, the dollar has been oversold for the last week or so.
Khaled, Nayr,
Thanks for your participation,
Initially after the NFP the was bumped for 5 or 10 minutes as the report was again job destructor. But as soon as the US index reached resistance levels, the big boys started to realized that the tendency was dropping so they started to buy dollars very aggressively (common NFP reaction from time to time)
Thanks for sharing your view!
the Economic Recession has been pretty hard on us. some of my friends lost their job because of the massive job cuts. i just hope that our economy becomes better in the following years.
i think that the Economic Recession would soon be over in the following years. there are lots of positive indicators in the world economy.