October 5th, 2012, Non-farm payroll was announced and we see that the U.S. economy created 114,000 jobs in September.
The unemployment rate is shocking America, it’s the lowest since January 2009.
7.8% is the current unemployment rate.
More good dollar news, the household survey showed an increase of 873,000 in employment, the greatest since June 1983.
This is good news for Obama. There is speculation from critics that numbers are skewed. If that would turn out to be the case, you can expect a lot of turmoil in America and the markets.
The 8% unemployment rate was used against Obama in the presidential debate because, since Obama has been president the unemployment rate hasn’t broke below it. This statistic can not be used against Obama any more.
So far in the markets we haven’t seen much dollar strength. This could be due to risk aversion. As time takes it’s course I think there could be some substantial dollar strength. The dollar could possibly ride a bullish trend for the next several months as the election takes place in November.
Time will tell, but don’t take your eyes off of the United States. This is a very interesting time for the greenback.
If your not familiar with what QE3 is, get educated. Read about it here.
Winner’s Edge Trading, as seen on: