Jobless Rate, a sign of the times
07/06/09 23:02
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Chris Lori, CTA
Auckland, New Zealand
August 14-16
Chris Lori will be speaking at the Las Vegas Money Show on "Psychology and Risk," Aug 4 at 10am.
Join Chris Lori's "Pro Traders Club," see how the pro's trade and view the market. No Selling, just pure market action and analysis.
USDCAD has rallied from our 1.0990 levels ref'd in the last forex notes, while other majors have moved as we anticipated. We have another data filled week that can cause rip current in the market.
The US dollar rallied sharply on Friday boosted by non-farm payrolls, which showed jobs disappearing at a rate less than the market feared. EURUSD traded from a session high of 1.4269 down to a session low of 1.3970, while USDJPY traded up to a high of 98.21 from a low of 96.55. Equity markets finished the session slightly lower, as the market feared the Fed lifting rates this year. Reflecting those tightening fears, 2-year Treasury yields surged by 35bp to 1.29%, while 10-year Treasury yields rose by 13bp. Meanwhile, 10-year inflation expectations as captured by the TIP bond spread rose by 7bp. That is real yields in the US for the 10-year rose by roughly 5bp.
Chris Lori, CTA
Auckland, New Zealand
August 14-16
Chris Lori will be speaking at the Las Vegas Money Show on "Psychology and Risk," Aug 4 at 10am.
Join Chris Lori's "Pro Traders Club," see how the pro's trade and view the market. No Selling, just pure market action and analysis.
USDCAD has rallied from our 1.0990 levels ref'd in the last forex notes, while other majors have moved as we anticipated. We have another data filled week that can cause rip current in the market.
The US dollar rallied sharply on Friday boosted by non-farm payrolls, which showed jobs disappearing at a rate less than the market feared. EURUSD traded from a session high of 1.4269 down to a session low of 1.3970, while USDJPY traded up to a high of 98.21 from a low of 96.55. Equity markets finished the session slightly lower, as the market feared the Fed lifting rates this year. Reflecting those tightening fears, 2-year Treasury yields surged by 35bp to 1.29%, while 10-year Treasury yields rose by 13bp. Meanwhile, 10-year inflation expectations as captured by the TIP bond spread rose by 7bp. That is real yields in the US for the 10-year rose by roughly 5bp.