Today we had revised numbers for first time filers last month.. The number was revised down 20,000 from 532 to 511… A sign of a healthy economy is under 400K every month…
Some analysts are heralding this declining rate of decline as the early sign the lay-offs may be coming to an end…Expected number tomorrow morning at 730 is for
175K…A number above or below will be a key to trade from…
Currently, we are working back towards yesterday’s high before the afternoon melt in the stock indexes…
Gold continues to hover around 1100, while grains are seeing lower prices with better dry weather convincing traders that the harvest will be caught up after all the rains we had which had delayed harvest.
On Tuesday, we get a USDA number which should give us better info about current yields in Corn and Beans.
We continue to have choppy trade in the grains, as the market watches the dollar’s relative strength, and the continued buying support in Gold.
The Fed’s decision to leave interest rates low seems to have been a non-event, with the market now focused on unemployment as a signal as to whether or not we will have job growth in the next recovery…Currently we had increased productivity of 8Plus percent, as the workers who have survived the last year and a half of lay-offs continue to pick up the slack left after their numbers declined…
Good Trading