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Bobbys Corner-Open Market-Jan.7.2011

bob-slade-forex-trading-8-150x200Good Morning:

In what is normally a quiet session prior to US employment data (due out at 8:30 AM today)-the Euro lost ground to the USD as data from the EZ (Retail Sales,Trade Balance and GDP) missed expectations.

US employment data is expected to show an increase in jobs-which is adding to the markets optimism that the US economy is gaining traction and looks to gets stronger in 2011.  Hopefully this optimism will also be shared by the business community-thus resulting in new hiring.

World equity markets are mixed-and US Futures are in positive territory.

Oil:$88.95                                              Gold:$1358.70

8:30A.M. CHANGE IN PRIVAT PAYROLLS DEC. 150K      50K
8:30A.M. CHANGE IN NONFARM PAYROLLS DEC. 140K      39K
8:30A.M. CHANGE IN MANUFACT.PAYROLLS        DEC. OK      -13K
8:30A.M. UNEMPLOYMENT RATE DEC. 9.70% 9.80%
8:30A.M. AVG. HORLY EARNINGS MoM ALL EMP. DEC. 0.20% 0.00%
8:30A.M. AVG. HOURLY EARNINGS YoY ALL EMP. DEC. 1.80% 1.60%
8:30A.M. AVG. WEEKLY HOURS ALL EMPLOYEES DEC.      34.3O          34.3O
3:00P.M.  CONSUMER CREDIT        NOV. $0.5B          $3.4B

HAVE A GREAT DAY-WEEKEND & GOOD LUCK