Every single day we have more reason to believe that the US unemployment rate will break 8 percent next year. Jobless claims rose to a 16 year high last week of 542k, driving the US dollar lower against the Japanese Yen. Continuing claims rose to 4.012 million, the highest level in close to [...]

Posted in Bernanke, FOMC, Fed Rate Cut, Fed Rate Cut Expectations, Federal Reserve, Forex News, consumer spending, forex blog, jobs, non-farm payrolls No Comments »

Citigroup announced today that they will be cutting more than 50,000 jobs in the “near term.” This is on top of the 23,000 jobs that they have already cut and will leave the company with approximately 300,000 employees globally. Even though non-farm payrolls dropped by more than 200k in September and October, Citigroup’s layoffs and [...]

Posted in Forex News, dollar rally, forex blog, non-farm payrolls No Comments »

There is nothing good about today’s labor market report - between September and October, 524k jobs were lost in the US economy. Even though last month’s job losses were worse than the market expected (-240k), it was not as bad as everyone had feared. But if you count the big downward revision to the [...]

Posted in Bloomberg, Fed Rate Cut Expectations, Japanese Yen, forex blog, non-farm payrolls No Comments »

Even though the US economy has not officially entered a recession, the US labor market has.
October will mark the tenth consecutive month of net job losses. The market currently projects a loss of 200k jobs last month, but given the trend of job losses in past recessions, there is a growing chance [...]

Posted in Bernanke, Federal Reserve, Forex News, US Dollar, US Economy, dollar earnings, dollar rally, forex blog, non-farm payrolls No Comments »

Non-farm payrolls dropped by 159k last month, 50 percent more than the market expected. Even though there was a minor upward revision to the August data, the Fed will have no choice but to cut interest rates at the end of the month. Fed fund futures are pricing in a 50bp rate cut [...]

Posted in FX Radio, Fed Rate Cut, Federal Reserve, Forex News, Forex Podcast, US Dollar, US Economy, forex blog, non-farm payrolls No Comments »