The Non-Farm-Payrolls (NFP) numbers of 171,000 reported jobs added from the Labor department on top of the revised 85,000 government jobs created for the months of August and September. Although, the unemployment number inched a tenth of a point to 7.9% the USDx currently working at the 80.51 as of this writing have manged to gather enough volumes and momentum to finally break away from the channel - sideways consolidation as described in our Market view outlook dated the 29th of October below. Please refer to the analysis for a complete report.
Watch for the suceeding follow through for the coming trading week as more open interest would increase and this expected spill=over may well be the catalyst for the market direction and its confirmation. Spread trading between Spot and Futures utilizing the ICE USD Index as a secondary market opportunity versus the spot would eventually pay-off. Of course, it can only be favorable along side with the market expectation of a favorable report for the USD as we have indicated including the good consumer confidence & manufacturing figures that already signaled this prior to todays's release.
No comments:
Post a Comment