Friday, December 08, 2006

Employment slightly stronger then expected.

The U.S. Employment number for Nov 2006 came in at 4.5% as expected. The Non Farm payroll came in at 132K against an expected 100K with revisions from previous months there was a modestly stronger number then the market expected. The dollar initially went better bid on the news as Hedge Funds were seen entering the market, but these players were quickly stopped out as the dollar reversed course and is not resting at the bottom of the days range. I am not sure what to make of this dollar move other then to say that NO ONE seems to want to hold dollars. I am still short my Euro's and will exit on a break of 1.3370.



Post a Comment

Subscribe to Post Comments [Atom]

<< Home