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  1. #101
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    U.S. economy gains 288,000 jobs in April

    Unemployment rate drop 6.3% from 6.7%, lowest since fall 2008, looking for a prospective spring revival in the economy that offers hope of faster growth in coming months.

    The economy created 288,000 nonfarm jobs last month, making the best performance since a 360,000 gain in January 2012, the unemployment rate meanwhile, dropped to 6.3% from 6.7%, the lowest level since September 2008.
    It was noted that there was an increase in hiring, almost all the major industry had added jobs, professional jobs on the other hand surged to 75,000 and the service industry too posted large gains.
    So far in 2014 the economy has gained an average of 214,000 jobs a month, well ahead of the 2013 pace of 194,000.

    What can this mean for the U.S economy now ?

  2. #102
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    ibri">U.S.Data released earlier showed that the U.S. existing homes sales increased 1.3% Annually in April with 4.65 million units sold.

    A separate report showed that U.S. manufacturing activity expanded at a faster rate than expected this month. London-based Markit Economics reported earlier that its preliminary U.S. manufacturing purchasing managers' index rose to 56.2 from a final reading of 55.4 in April, beating expectations of 55.5.
    On Wednesday, the Federal Reserve released the minutes of its April policy meeting, which revealed the U.S. central bank plans to continue tapering its monthly bond-buying program and rely on other tools to normalize monetary policy, though actual rate hikes won't come for a considerable amount of time.
    Dollar jumped on strong U.S. factory output and housing data.

  3. #103
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    Moody’s forcasted that the US could reach full employment as early as 2016 and that there is about 2 percentage points of slack still in the jobs market. It also sees private jobs growth above 200k over the next few months.

    The Fed doesn’t have a definitive number for full employment but the market reckons it’s between 5-6%.

  4. #104
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    NFP

    The risks to US May headline non-farm payrolls are skewed strongly to the weak side of the 215K consensus. April’s 288K headline jobs gain was the largest rise since Jan 2012. This is a very high base for May, probably helped by the unusually late Easter. One need not be especially bearish on the US economy to expect a headline well short of 215K.

  5. #105
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    The dollar strengthened against major peers and Treasuries fell amid speculation the Federal Reserve may raise taxes sooner than previously anticipated. Silver snapped five weeks of gains while European index futures were little changed with Asia benchmark equity gauge.

    Goldman sachs group Inc. brought forward its estimate for U.S interest rate increases to the third quarter of 2015, saying the economy is accelerating to an above trend pace. The Fed releases minutes of its last OPEC meeting this week, while American markets resume today for a three day weekend after stronger than forecast jobs report on July 3. China issues inflation trade data this week, while companies including Alcoa Inc., Fast retailing co. and Samsung Electronics Co. are due to report earnings.

  6. #106
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    Yellen’s House committee testimony hasn’t been much different from the Tuesday senate comments apart from the indication that the Fed is continuing to discuss the framework for policy normalization.

    Yellen said more details will be given on this topic later this year.

    In other bits of the Q&A, the Fedchair responded to a Repubican proposal trying rate increases to a mathematical formula, for example the taylor rule, saying that its utterly necessary for us to provide more Monterey policy accommodation that those simple rules would have suggested.

    On the topic of markets, the Fedchair classified the threats to financial stability as at a moderate, not high level.

  7. #107
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    Yellen to emphasize the solid performance of the US labor market.

    The FED may acknowledge the recent stronger than expected labor market improvements at the upcoming FOMC meeting justifying the decision to taper QE by a further USD 10 billion. With QE set to end in October, the Fed will soon have to provide more details over the next stage of their exit strategy providing support for the US dollar.

    Fed Chair Yellen has already stated at the semi-annual testimony to congress that should the labor market continue to strengthen more than expected it could prompt sooner and more rapid rate hikes. The release of the latest US GDP report for Q2 will also be in focus.

    The report is expected for reveal that the US economy rebounded after the unexpectedly sharp contraction in Q1. However, the economy is likely to have still contracted modestly during the first half of this year. The US economy is expected to record stronger growth in the second half of this year which should provide a more supportive environment for the US dollar to extend its upward momentum

  8. #108
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    Although I am a newbie,I am not so familiar with the term used here.For this reason,I am still in the learning stage of this trading.I think that trading will be mush more beneficial for me and also for the newbies.For Forex training and mentoring:
    Last edited by Syed; 09-19-2014 at 04:05 AM.

  9. #109
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    Euro to correct higher today if US NFP numbers for July fail to surprise considerably to the upside.

    EUR’s muted reaction to weaker than expected Eurozone July inflation indicates the currency may have reached oversold territory.

    Investors’ expectations for a constructive payrolls reading have been rising on the back of the most recent better than expected growth data.

    However, given high expectations it will be difficult to drive US short-term rates higher unless data surprises considerably higher.

    As a result to the above outlined conditions we argue against selling EURUSD around the current levels. From a broader angle, however, rallies may still prove a sell.

  10. #110
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    Bullard stated that the markets are probably wrong to be discounting slower rate hikes than the Fed is forecasting.

    And are trading “too dovish compared to the committee”, yet kocherlakota said that the FOMC won’t hit its target of 2% inflation until 2018 due to weakness in the labor market!

    In other words, the market saw two starkly varying clews and treasuries listened to kochelakota not Bullard, 10 year yields closing at 2.34%, having tested 2.30% intraday.

  11. ARIONFORXtarder
 

 
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