Next Trigger for the markets: Unemployement Rate ?
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(No Ratings Yet) Loading ...By Investing Contrarian
Published: August 7, 2009
This may be the big trigger for market either ways. If it is below 9.7% markets should be steady or gradually move up. My view is even if it is worse than 9.7%, it is time to move out of dollar. There can be a temprorary pull back of the dollar index but that is another opportunity to go long on commodities. US is dangerously close to a double dip recession and with the huge debt overhang, there is no place safe in US to put your money. It is increasingly becoming likely that US will declare the Bank holiday and systematically devalue the dollar. Be fearful when everyone else is greedy!!!
Read on
from market watch
“The U.S. economy continued to shed jobs at a furious, if reduced, rate in July, probably driving the unemployment rate to a 26-year high of 9.7%, economists said ahead of the release Friday of the Labor Department’s employment report.
Nonfarm payrolls likely contracted by a seasonally adjusted 275,000 in July, the 19th consecutive month of losses, according to the median forecast of economists surveyed by MarketWatch.”
Tagged with: Global Investo
