Payrolls excluding the farmer sector increased by 155,000 last month according to the Labor Department. This was a little higher than the economist expectations.
Early in the day the U.S. Dollar was very strong, since the announcements at 8:30 the U.S. Dollar has been becoming a slightly weaker.
Last month the unemployment rate was released at 7.7% and later revised to 7.8%. Therefore, today’s 7.8% unemployment rate showed no deviation from last month.
ISM Non-Manufacturing PMI
The ISM (Institute for Supply Management) Index climbed to 56.1 for December, 1.4 points higher than November. This is the fastest pace in 10 months and is great news for U.S. sentiment as we head into 2013.
“The recovery we’re seeing in housing construction is likely offering support,” Senior economist at Bank of America Michelle Meyer said.
The housing market has surely shown impressive figures recently. We will find out in the coming quarters whether or not that data directly influences the Forex Market.
Forex Trading sensitivity to fundamental events could be calloused when there is so many economic activities going on. An example to communicate the point: If there are 10 news announcements in one day for the United States Dollar and the Euro, some very positive for each and some very negative for each, the market has so much to digest that it can get clogged up.
Friday morning the U.S. Dollar was very strong, since the news releases the Dollar is experiencing some weakness. How the daily bars close today could have great influence on traders sentiment for next week.
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