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Bobbys Corner-Open Market-Dec.3.2010

bob-slade-forex-trading-7-150x200Good Morning:

Stronger data from the EU sent the Euro higher-as EUR/USD broke through 1.3250 level.  Better than expected EZ Services PMI and EZ Retail Sales helped keep the Euro strong.  The Bundesbank rose their growth forecast for German growth in 2011.  The ECB has delayed their exit from stimulus measures-and will make credit easier at least through March 2011.
Today the markets are focused on this morning’s US  jobs data.  The consensus is that the US added jobs-and the estimate is for an increase of 150k. The problem may be that this is not a big enough number to drop the overall unemployment rate which has been holding at 9.6%.

Equity markets were mostly higher-and US Futures are higher at this time.

Oil:$88.19                                                           Gold:$1388.60

TIME FOR EST. PRIOR
8:30A.M. CHANGE IN NONFARM PAYROLLS NOV. 145K 151K
8:30A.M. CHANGE IN PRIVATE PAYROLLS NOV. 155K 159K
8:30A.M. CHANGE IN MANUFACT.PAYROLLS NOV. 3K -7K
8:30A.M. UNEMPLOYMENT RATE NOV. 9.60% 9.60%
8:30A.M. AVG. HOURLY EARNING MoM ALL EMP. NOV. 0.20% 0.20%
8:30A.M. AVG.HOURLY EARNINGS YoY ALL EMP. NOV. 1.70% 1.70%
8:30A.M. AVG. WEEKLY HOURS ALL EMPLOYEES NOV. 34.3O 34.3O
10:00A.M. ISM NON -MANF. COMPOSITE NOV. 54.8O 54.3O
10:00A.M. FACTORY ORDERS OCT. -1.20% 2.10%

HAVE A GREAT DAY-WEEKEND & GOOD LUCK