Friday, December 08, 2006

U.S. Employment today

The U.S. will be reporting its November 2006 employment statistics today at 8.30am est. The rate as reported by Bloomberg is expected to be 4.05% with non farm payrolls (the key number) expected at 100k. I believe that a neutral to strong number will provide strength to the dollar. Only and absolutly terrible number will continue dollar weakness. As I have written previously them market seems to me to be very short dollars. An excuse to take profit or cut a position before vacations will be jumped upon.

Barroso says Euro FX rate not especially overvalued in historical terms *RTRS*

I will update after the number



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