Non-Farm Payrolls Drop -533k, More Losses to Come
Non-Farm Payrolls Drop -533k, More Losses to Come
Non-farm payrolls dropped 533k last month with the unemployment rate soaring to 6.7%, the highest level since 1993. September and October job losses were also revised to worse numbers. There is no capitulation bottom when it comes to the labor market which means that negative non-farm payrolls will […]
Euro Open: Euro/US Dollar Supported Overnight - More Gains Ahead?
Euro Open: Euro/US Dollar Supported Overnight - More Gains Ahead?
The Euro tested higher in overnight trading as stock markets around Asia followed gains on Wall Street. Technical positioning suggests risk appetite could continue to rebound in the coming days, boosting the single currency and putting pressure on the US Dollar. Euro Zone Retail Sales headlines […]
More Evidence of an Intensifying Economic Downturn in Euroland
More Evidence of an Intensifying Economic Downturn in Euroland
Late last week came news of a 3.9-point decline in Euroland’s November composite PMI to record low of 39.7 and an even worse reading of 36.2 in manufacturing versus 54.1 in November 2007. Word also surfaced that construction output sank 1.3% in September.
Four more adverse statistics were […]