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Bobbys Corner-Open Market-March.4.2011

bob-slade-forex-1-150x200Good Morning:

Asian and European markets were relatively range bound-as the markets await this morning’s employment data in the US.  The guesstimate is for NFP to be up by almost 200K.  With this weeks positive data, we may expect to see better than expected NFP and unemployment rate numbers.
Traders are hoping for good numbers after January’s disappointing results-which were highly contributed to the rough winter weather that seemed to surround most of the US.
I think that we will need to see a few months of positive employment data before the Fed believes that this is a trend, and not a one-off.

Asian and European equity markets traded higher-and US Futures are also higher at this time.

Oil:$102.85                                                               Gold:$1418.50

  TODAY’S RELEASES
TIME FOR EST.    PRIOR
8:30A.M. CHANGE IN NONFAM PAYROLLS FEB. 197K      36K
8:30A.M. CHANGE IN PRIVATE PAYROLLS FEB. 200K       50K
8:30A.M. CHANGE IN MANUFACT. PAYROLLS        FEB.  25K        49K
8:30A.M. UNEMPLOYMENT RATE FEB. 9.10% 9.00%
8:30A.M. AVG. HOURLY EARNINGS MoM ALL EMP. FEB. 0.20% 0.40%
8:30A.M. AVG. HOURLY EARNINGS YoY ALL EMP FEB. 1.90% 1.90%
8:30A.M. AVG. WEEKLY HOURS ALL EMPLOYEES FEB.         34.3O        34.2O
10:00A.M. FACTORY ORDERS       JAN. 2.00% 0.20%

HAVE A GREAT DAY-WEEKEND & GOOD LUCK