Intraday Market Thoughts

Archived IMT (2011.02.04)

by Ashraf Laidi
Feb 4, 2011 16:50

US JOBS ROSE 36K from a revised +121K (total of +40K in Dec & Nov revisions) While the unemployment rate tumbled to 9.0% from 9.4% (lowest since April 2009). The continuous decline in the unemployment rate results from the fell 504K decline in the labour force. Discouragement among job seekers has been largely attributed to the decline in participation rate. As for the weather factor, the Labour Dept. says 4.9 million people were forced to work part-time due to bad weather after 356K in December. GBPUSD SIMPLY COULD NOT regain the $1.63 November High while AUDUSD has yet to break (close) above the $1.0190 high to match the left shoulder from Nov high.

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