| Search by tag or site | Login to my blog ▪ Start my own blog |
 |
A Global PerspectiveThe New Global Standard for Wealth Creation |
Economy Maintains Brisk Pace
Posted on 09/25/2006 16:39:05 | Link | Post Comment
0920 EDT Friday April 07 2006
Good Morning: A robust springtime hiring burst boosted payrolls by a hefty 211,000 in March and pushed the nation's unemployment rate down to 4.7% sending leading market indices to new multi-year and all time record highs. A few years ago, the lack of jobs creation was a cause for concern, but the incredibly steady pace of job creation over the past couple of years has certainly made up for that and while this may not be the greatest job creation bonanza ever there is a definite feel of steadiness to this trend, which is comforting and perhaps if the Fed sees the way clear to lay off raising rates further, it would be miraculous to see this trend maintained throughout the remainder of this year. Average hourly earnings registered only a slight increase, which might give the Fed further cause to ease off on the rate brakes soon.
The US Dollar rebounded some overnight and is at a very testing level right here that could determine whether it resumes its uptrend or goes lower. Any further strength in the Dollar could turn it back to strongly bullish and that is something we need to watch out for. That could in fact be a positive for precious metals as for now there is a lot of Gold buying against or in defense of Euro weakness, which has been a theme of many months. Gold is hovering either side of $600 and Silver consolidating around the $12 mark in an impressive display so far.
The Australian and Canadian Dollars as resource currencies have both been gaining strongly of late which tends to be positive for metals.
Trade Well
From the Desk of Savant
Good Morning: A robust springtime hiring burst boosted payrolls by a hefty 211,000 in March and pushed the nation's unemployment rate down to 4.7% sending leading market indices to new multi-year and all time record highs. A few years ago, the lack of jobs creation was a cause for concern, but the incredibly steady pace of job creation over the past couple of years has certainly made up for that and while this may not be the greatest job creation bonanza ever there is a definite feel of steadiness to this trend, which is comforting and perhaps if the Fed sees the way clear to lay off raising rates further, it would be miraculous to see this trend maintained throughout the remainder of this year. Average hourly earnings registered only a slight increase, which might give the Fed further cause to ease off on the rate brakes soon.
The US Dollar rebounded some overnight and is at a very testing level right here that could determine whether it resumes its uptrend or goes lower. Any further strength in the Dollar could turn it back to strongly bullish and that is something we need to watch out for. That could in fact be a positive for precious metals as for now there is a lot of Gold buying against or in defense of Euro weakness, which has been a theme of many months. Gold is hovering either side of $600 and Silver consolidating around the $12 mark in an impressive display so far.
The Australian and Canadian Dollars as resource currencies have both been gaining strongly of late which tends to be positive for metals.
Trade Well
From the Desk of Savant
- The Ultimate Gold Hedge
- The Ride Of Your Life
- A Pre-valentine's Day Rally
- Gold Soars As Wall Street Falters
- Dreamtime On Wall Street
- March 2007
- February 2007
- January 2007
- December 2006
- November 2006
- October 2006
- September 2006
- August 2006
- July 2006
- June 2006
- May 2006
- April 2006
- March 2006
- February 2006
- January 2006
- December 2005
- November 2005
- October 2005
- Newmark's Door
- Duct Tape Marketing
- The Family CEO
- Rag's Soapbox
- SiliconValleyWatcher
- Paul O'Flaherty
Examples
ATM Wallstreet - Tue Jul 08, 2008 02:28PM
Why I traded the stock ME today. I had it on my list fr [read more]
Why I traded the stock ME today. I had it on my list fr [read more]
Morpheus Trading - Wed Jul 02, 2008 08:45AM
NOTE: Please click on the charts below to enlarge them if [read more]
NOTE: Please click on the charts below to enlarge them if [read more]
Morpheus Trading - Thu Jul 03, 2008 07:49AM
NOTE: Please click on the charts below to enlarge them if [read more]
NOTE: Please click on the charts below to enlarge them if [read more]
<< My Home | TheMoneyBlogs Home