- August US Jobs Report Is Disastrous: 6 Takeaways
September 07 2012 11:22 AM
It's been three years since the Great Recession technically ended, and still, unemployed Americans are struggling to find work.
- London Session: Markets poised for a Big Bazooka from the Fed
September 07 2012 11:11 AM
In an environment where central banks are driving price action then a bad payrolls number can negate the safe haven impact of the dollar and cause the euro and stocks to surge. Payrolls increased by a dismal 96k in August, the rate was dragged lower by net job losses in the government, mining and manufacturing sectors. Earnings data also fell, with the average weekly wage dropping to $809.09 vs. $809.43 in July.
- Another Weak Jobs Report Keeps Election Close
September 07 2012 10:59 AM
With both nominating conventions over, the release on Friday of a lackluster August jobs report underscores the dynamic underpinning a week's worth of lofty speechifying: this is either man's race.
- Pre-Opening Soy Complex Market Report 9/07
September 07 2012 10:55 AM
November soybeans are trading 8 cents lower near 7:30 am cst. Soybean meal and oil are trading lower as well. Malaysian Palm Oil prices fell overnight and posted their worst weekly performance since late July as traders expect rising stockpiles. There were no soybean or soybean meal deliveries overnight but 703 for oil to bring the total for the month to 5,944. Asian equity markets were sharply higher during overnight trading, with the Nikkei up 2.20% and the Shanghai A Share index up 3.70%. Eur...
- Oil prices firm ahead of NFP data
September 07 2012 10:51 AM
Yesterday was all about the announcement of the details of the new bond buying program by ECB President Draghi. So far the market has viewed the new program as mostly bullish for risk asset markets especially the global equity markets. The reaction on the commodity side was much more muted than on the equity front. In fact oil prices surged higher only to closes in negative territory and at its lows. It was a technical reversal day to the downside for oil and one that is biased to the bearish si...
- Morning Gold Market Report 9/07
September 07 2012 10:41 AM
The gold market got a big boost yesterday from ECB President Draghi's "unlimited" bond-buying plan. The news fed investor risk tolerance and lent support to the equity markets and metals in general. Strong private-sector jobs data and also lent support to the equities and helped them sustain their rally throughout the day, but it presented a mixed-signal to the precious metals markets. Traders are concerned that strong economic data would discourage the Fed from embarking on a quantitat...
- Morning Silver Market Report 9/07
September 07 2012 10:40 AM
SILVER MARKET FUNDAMENTALS: (6:00 AM CT) Silver was lower overnight as traders were cautious ahead of this morning's monthly jobs report. The market had rallied sharply yesterday off of optimism from the Euro-zone but traded back off its highs on stronger than expected ADP payrolls data and an improvement in weekly jobless claims.
- Facts About Obama’s White House Term
September 07 2012 10:33 AM
Republican Truth Squad at Work, the Facts. You may or may not like Bush 43, but this is a History lesson, so it is information for all US voters, regardless of party. The facts; The day the Democrats took over was not January 20, 2009; it was January 3, 2007, the day the Democrats took over the House of Representatives and the Senate, at the very start of the 110th Congress.
- NFP – Reactions in Gold and Silver Reflect QE3 Expectation
September 07 2012 10:19 AM
The first Friday of every month is the day for the previous month's Job data in the US (expect some times when the first is Friday). The 9/7 NFP release for August showed that 96,000 jobs were added in the month, which was down from July's 141,000 (revised down fro 163,000). The 96K also missed forecasts of 123K. The unemployment rate dropped from 8.3% to 8.1%, though when you break down the numbers, a big factor of this is due to lower participation rate - the 368K that left the workforce...
- US Economy Adds 96,000 Jobs In Aug, Joblessness At 8.1%
September 07 2012 8:38 AM
The U.S. economy added a paltry 96,000 jobs last month, vastly fewer than economists were expecting. However, the fact that fewer Americans were seeking employment resulted in the unemployment rate falling to 8.1 percent.
- THE FED'S CAMPAIGN
September 07 2012 7:35 AM
This past Friday, as Fed Chairman Ben Bernanke delivered his annual address from Jackson Hole - the State of the Dollar, if you will - I couldn't help but hear it as an incumbent's campaign speech. While Wall Street was hoping for some concrete announcement, what we got was a mushy appraisal of the Fed's handling of the financial crisis so far and a suggestion that more 'help' is on the way.
- US Stock Futures Signal Higher Open Ahead Of Nonfarm Jobs Report
September 07 2012 5:15 AM
The U.S. stock index futures point to a higher open Friday ahead of the Bureau of Labor Statistics' nonfarm payrolls and unemployment reports.
- 7/9/2012 - The Current Market Sentiment
September 07 2012 3:41 AM
The market focusing has been shifted to the US labor report of August which will be released today from the ECB's yesterday awaited decision of buying bonds which came with expected germane criticism too. The single currency rose yesterday after announcing the decision of having the interest rate unchanged at 0.75% but after receiving the decision of releasing unlimited buying bonds plan from the secondary market in an unlimited way during the consequent press conference, the single currency ...
- Majors Daily Forecast 7 September 2012
September 07 2012 3:14 AM
EUR/USD Buy at 1.2628 SL 1.2596 TP 1.2705 USD/JPY Buy at 78.88 SL 78.56 TP 79.60 GBP/USD Buy at 1.5925 SL 1.5893 TP 1.6013 USD/CHF Buy at 0.9536 SL 0.9504 TP 0.9620 today so far +73, total yesterday +114 pips
- Do Democratic Presidents Historically Pull Nation Out Of Fiscal Rut?
September 06 2012 9:20 PM
The 2012 campaign has focused on a myriad of social and ideological issues, with some smatterings of tax policy and truckloads of mudslinging. A new book argues voters should look past the obfuscation and consider what is best for their wallet. Its authors claim history has proven one thing: when it comes to economic success, the left has had the upper hand.
- Democratic National Convention Schedule: Celebrties (And Joe Biden) Will Take The Stage
September 06 2012 2:17 PM
Charlotte will become Party Central Thursday night as the 2012 Democratic National Convention ends with President Barack Obama accepting his party's nomination following speeches by Vice President Joe Biden and Sen. John Kerry (D-MA).
- Surging ADP Numbers Has Analysts Wondering: Are Their August US Jobs Report Forecasts Too Low?
September 06 2012 1:25 PM
An ADP report that private sector job creation topped analyst expectations by nearly a third has economists taking a second look at their, perhaps too negative, predictions, about what Friday's U.S. jobs report from the Labor Department will show.
- Clinton Visits East Timor, Asia’s Newest, And Most Obscure, Democracy
September 06 2012 1:01 PM
Secretary Clinton's visit to East Timor was meant to be a show of support for Asia's newest democracy as it works to grow its economy and become a legitimate member of the Association of Southeast Asian Nations.
- Fundamental Update: Q&A: the latest ECB policy decision
September 06 2012 1:01 PM
Draghi has announced the ECB's much anticipated bond buying plan today and it was more detailed than some had thought. Obviously skipping the Jackson Hole conference last weekend paid off, as the ECB seems to have developed a fully formed bond-purchasing plan. But what does it mean and what could its impact be on the euro? We have tried to answer a few questions below in attempt to understand exactly how effective the latest remedy to the sovereign debt crisis will be.
- Daily Summary on USD, EUR, GBP, JPY, AUD and CAD
September 06 2012 12:55 PM
The dollar is mixed this morning, gaining against most of its G7 counterparts while falling versus its higher yielding peers. The dollar and growth-oriented currencies are performing well as investors pare their bets of a global economic slowdown. The better-than-expected pace of growth in the US is also prompting the market to pull back some of its expectations of imminent Fed action. This morning, private payrolls provider ADP released its monthly gauge of private sector jobs growth with the n...