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Jobless Numbers – 8/07/16

Jobless Numbers – 8/07/16

The Non-Farm Employment Change numbers have produced a result of 287K jobs added. This is a much better result than expected. The outcome has beaten the estimate of 175K jobs added by over 100K. This result could prove to put some risk appetite on the table before going into the weekend.

Global Indices have been cautious, but this could put some spark into the market. Many analysts had predicted a worse number, but this number shows the American economy in fact added quite a few jobs. It must be noted that the previous last month’s totals have been revised downwards. The number of jobs added recently looks good for this past month, but it must be said that the better than expected number doesn’t change the downward trend in the jobs market.

FX pairs which have traded in a cautious range may now find a test of ranges within the GBP The GBP The GBP is the official currency of the United Kingdom. The GBP is a major currency and currently ra... More is the official currency of the United Kingdom. The GBP is a major currency and currently ra... More and EUR The EUR The EUR is the official currency of the European Union. Presently 19 out of the 28 collective  nati... More is the official currency of the European Union. Presently 19 out of the 28 collective  nati... More over the next couple of hours. The results from these jobs numbers are actually pre-Brexit results. While the U.S. economy has not been immediately effected by the U.K. vote, the nervous sentiment that still surrounds markets including Wall Street will not suddenly stop and next week will produce the same concerns about the long-term.

Nor will the Federal Reserve The Federal Reserve The Federal Reserve The Federal Reserve is the Central Bank of the United States of America and sets the monetary policy When used by traders and investors monetary policy When used by traders and investors monetary policy When used by traders and investors monetary policy usually refers to Central Bank policy concerning ... More usually refers to Central Bank policy concerning ... More usually refers to Central Bank policy concerning ... More ... More is the Central Bank of the United States of America and sets the monetary policy... More is the Central Bank of the United States of America and sets the monetary policy... More be able to use this result in order to raise interest rates. Better economic data will have to continue to come from the U.S. in order for the Fed The Federal Reserve is the Central Bank of the United States of America and sets the monetary policy... More to have any capability to increase rates as the economic sector still is putting our very poor growth numbers.

This result may actually help the GBP going into the weekend if investors increase their risk appetite a bit. Gold will also be of interest the next few hours. The big question is if Wall Street can now turn in a positive result for today’s trading on the major Indices. Traders should watch for trends that will develop because of the better than expected Non-Farm Employment Change number in the short-term.

 

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