NFP In Focus But Watch Gold For Dollar's Direction

February 07, 2014   |   February 2014 Bond Updates
Investors and dealers live for market volatility, it creates trading opportunity, and today's North American jobs reports should not disappoint even the neutral observer. The release of last month's employment reports for the U.S. and Canada came in far below expectations, with the weather being blamed for the bulk of setbacks. Canada actually lost jobs while the U.S. created few, both well off market expectations (74k and -46k, respectively). Today, particularly for the U.S., another sub-par performance and future Federal Reserve taper actions will surely be called into question. Even for the good health of the typical global investor, this market requires a healthy nonfarm payrolls (NFP) report, or one that is close to consensus (+185k and an unemployment rate +6.7%), to keep the investment ship afloat. Any serious deviation from expectations and we will have a foreign exchange (forex) market second guessing not just the Fed's monetary position but others’ as well.

View more at: http://www.forbes.com/sites/deanpopplewell/2014/02/07/nfp-in-focus-but-watch-gold-for-dollars-direction/
 
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