U.S NFP disappoints, USD weaker across the board! 

  • The Dollar Traded weaker on Friday as the market sold the dollar aggressively after weaker than expected November Payrolls at +39k vs. 140k forecast with the Unemployment Rate also jumping to 9.8% vs. 9.6% previously. Adding to Dollar selling pressure was reported comments from the FED Chairman Bernanke that the Central Bank may increase bond purchases past the 600bn announced last month. In US stocks the DJIA traded +19 points higher closing at 11382 and the S&P traded +3 points up closing at 1224. Looking ahead, Fed Chief Bernanke Speaks.

    The Euro surged back above 1.3400 to complete a 400 point rally from sub 1.3000 levels earlier in the week. October Retail Sales gained 0.5% vs. -0.2% previously. The strong rally in the Euro off lows does not reflect Eurozone strength but is a better reflection of USD weakness. EUR/USD traded with a low of 1.3194 and a high of 1.3414 before closing at 1.3408. 

Currency to watch out for: EURUSD & USDJPY

  • § The EURUSD pivot point is at 1.3290 with a preference to enter into Long positions at 1.3300
  • § The USDJPY pivot point is at 83.15 with a preference to enter Short positions at 83.10               

Today's calendar and market movers:

  • § Euro Zone Sentix Index for December, previous months reading was 14 

Equity Markets: 

  • US equities closed positive on Friday with the S&P500 up 0.26% and the DJIA up 0.17%. The European bourses were mixed with the FTSE down -0.39% the DAX and the CAC closing down at -0.14% and up 0.09% respectively. The NIKKEI and the HSI at the time of writing is -0.11% and 0.8% respectively.