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NFP

Bobbys Corner-Open Market-August.9.2010

bob-slade-forex-trading-6-150x200Good Morning:

The first overnight session of the week was lackluster at best, as investors concentrated on the equity markets.
The rally in world equity markets kept the Yen lower-as demand for the safe haven of the JPY waned.
Friday’s weak NFP data from the US weighed heavily on the USD.

Preview of the Unemployment release and the key technical levels to watch

In this report, I review the expected details of the unemployment report and look at the key levels to watch for the major currency pairs including the EURUSD, GBPUSD, and USDJPY. The Canada Unemployment report already came out weaker than expected. The 1.0205 is the key level to watch for that currency pair. Above should bullish, below should be bearish after the US data is known

Bobbys Corner-Open Market-March.5.2010

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

The JPY fell as speculation that the BOJ may step up credit easing measures as the US economy get stronger.

In general the markets were quiet ahead of NFP and the US employment data today.
Greek Prime Minister Papandreou will be meeting with German Chancellor Merkel today-and will be in France on Sunday as he tries to sell the Greek austerity package to his EU allies.  Yesterday’s Greek Bond issue was successful, and hopefully this will keep the debt markets at bay for the time being.

Bobbys Corner-Open Market-Dec.4.2009

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

The USD  was slightly weaker ahead of this morning’s employment data.  In Germany, the Bundesbank upgraded it’s forcast for growth in 2010.

Asian equity markets were mixed, and Europe is lower at this time.  US Futures are pointing to a higher opening this morning.

Today the markets will focus on the employment data.  There are potentially mixed sgnals between the Non Farm Payroll data and the outright unemployment rate.

Watch this section for continuous updates during ths day.

Bobbys Corner-Open Market-Oct.2.2009

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

World equity markets dropped , and commodities fell on speculation that rising unemployment will dampen the overall global recovery.  Raw material producers, banks, and retailers led the downward trend.
Gold dropped below $1000/oz, and Oil is trading under $70/bar. 

The JPY rose as concerns that rising loan defaults and unemployment will slow the recovery, most notably in the US.  
On another note, the G-7 will meet this weekend in Istanbul, and the strength of the Euro will be a main topic of conversation.

US Employment Report mixed with revisions. Unemployment Rate rises to 9.7% however

NFP for Aug  -217K   vs 230K expectation.  Revision  -276K vs -247K
Unemployment Rate 9.7 % vs expectation of 9.5% (last 9.4%)

Work Week 33.1 hours (as expected)
Hourly Wages +0.3% MoM, 2.6 % YoY

6.9 million people have lost their jobs since the start of the job recession.

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US Employment numbers to be released at 8:30 AM. The expectation is for an improvement

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The US Non Farm Payroll will be released at 8:30 AM. The expectation is for a decline of -325K.  However, the whisper estimates have been coming down over the last 24 or so hours, with a low estimate of -150k heard.  Last month, the number showed a decline of -467K.  This was a surprise to the market as it reversed the -322K May decline. 

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