Yes, we had a
"kinda" official report a couple of weeks back however
this coming Friday is the first official US Non Farm Payrolls number
since the Government shut down and the debt ceiling debate. The
market will react on the number which has everything to do with the
month the US Fed will likely taper the $85 billion a month in stimulus its injecting.
If the number is weak again this will likely push the US Dollar lower
and have economist tipping a taper program in 2014 with no chance of
it this year. But if the data shows a number of 180,000 plus I suspect the
market will think otherwise particularly on the back of Bernanke not making
any comments in his statement last month about a weakening
US Economy and the fact many believe he will want to leave a legacy and be the
Central Bank Governor who started and finished the stimulus program. The US Fed
had its chance to start to taper in September but elected not to,
and I think they know they must begin the taper sooner or
later.
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