Good Afternoon
Positive employment numbers out of Canada today with the actual
number of jobs created well above predictions at 96,000 and reducing the
employment rate to 7.1%. American Non Farms Payroll numbers out of the US were
also better than expected at 175,000 but unemployment rate disappointed coming
in above predictions at 7.6%.
While these US numbers do not definitively point either way this
may renew talks of tapering quantitative easing which would strengthen the US
Dollar in the coming weeks.
The US Dollar has strengthened with its largest move against the
Yen making up for weakness in the overnight market. One of the only currencies
to strengthen against the US Dollar is the Canadian Dollar which
strengthened after the release of its job numbers. The Employment numbers
caused a lot of volatility this morning which caused spikes in the market until
it settled down by the end of the morning.
Have a great weekend
Yonah
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