The NY Opening Forex Commentary is available for viewing

The NY Opening Forex Commentary is available for viewing

NFP comes in as expected but the Unemployment rate worse than expectations. So are revisions.

Unemployment rate 8.1%, expected 7.9%. Highest since Dec 1983.  This is consistent with the FXDD Unemployment review (click here for the report)

Manufacturing -168K  Prior month revised to 257K decline.  The worst since Feb 1975
Revisions to prior months have pushed the number of total jobs lost to 4.384 million. 
The average job loss in this employment recession has been 313K
The average over the last 4 months is a whooping 646K
Losses are still accelerating.

NFP 651K.  Prior month revised to 655K
Goods Producing: -276K
Servicing Producing -375K.  The spread into Service sector continues.

The Avg Workweek remains at record lows.

Job addition Sectors:
Health rose by 26K, less than trend
Govt rose by 9K

Job Loss Sectors
Manufacturing -168K
Trade, Trans and Utilities   -124K (Retail lost 39,500 jobs)
Professional and Bus Services -180K (Temporary workers lost 77K).  Largest decline going back to 1960
Construction -104K
Financial -44K
Information -15K
Leisure and Hosp –33K
Mining -4K

US Unemployment and Non Farm Payroll Review

The all important, US Unemployment statistics will be released tomorrow at 8:30 AM.  The expectation is for a decline of 650K jobs and for the unemployment rate to rise to 7.9%.   The data has the potential to be worse than expectations.  To find out why and to have a better understanding of this important economic release, read the following analysis. 

For a complete analysis of the report, click on the following link.

  US Unemployment and Non Farm Payroll Special Report (626.6 KiB, 1,939 hits)
You need to be a registered user to download this file.

 Thank you for your continued business and good luck with your trading.

Greg Michalowski
Chief Currency Analyst

NFP came in a little worse. Unemployment up to 7.6%

Revision to -577 from -524K
Manufacturing Lost 207K.
Construction lost 111K
Prof and Business Lost 121K

Unemployment rate 7.6 (Highest to 1992)
Work Week unchanged at 33.3
Goods Producing Jobs -319K
Service Sector -279K
Retail -45K

Weak once again.

US Unemployment and Non Farm Payroll Review

The US Unemployment statistics will be released tomorrow at 8:30 AM.  The expectation is for a decline of 540K jobs and for the unemployment rate to rise to 7.5%. 

For a complete analysis of the report, click on the following link.

  US Unemployment Review Download (697.1 KiB, 1,757 hits)
You need to be a registered user to download this file.

Thank you for your continued business and good luck with your trading.

Greg Michalowski
Chief Currency Analyst

Japanese Yen break out and look forward to non farm payrolls

FXDD MARKET UPDATE VIDEO: Non Farm Payrolls Results / How to trade & profit from next week’s releases

Bobbys Corner- Open Market 1.7.2009

Good Morning:

The Euro picked up overnight on speculation that the ECB will not cut their benchmark interest rates as low as other central banks.

Asian stocks rose and European equities fell.  U.S. futures are lower this morning.  Speculation that lower corporate earnings may outweigh world wide stimulus packages.

Oil:$48.50                        Gold:$859.60   

Today we have some secondary data on jobs.

The ADP report was down 693,000-this is higher than expected.
Non Farm Payroll on Friday is expected -500K.

HAVE A GREAT DAY & GOOD LUCK

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