Updates

Update:Where we stand 5th February 2016

Not a great report but by no means a bad one. The observations I take from this are:

1.) 151K NFP, stronger than the 100K that Yellen says would convince her of a tightening job market. That is a positive.

2.) Earnings up 0.5%, another positive.

3.) Unemployment fell, as we predicted it would, to 4.9%. Another positive.

4.) 29K manufacturing jobs added in Jan and 13K added in December, in spite of the weak ISM manufacturing PMIs. Maybe productivity takes time as we will see manufacturing pick up in February? A strong possibility I think.

So while I am not delighted with this report, I feel is is not a bad one. It seems from the initial reactions, the market also feels the same way.

My current status is: I am still not ruling out a move by the Fed in March. There is still a lot of data between now and their meeting then, and most of it has the potential to be good.

Regards,

Mohammed

2 Comments

  1. Well This NFP report wasn’t bad for us, ok we aren’t in the green on eToro, but hey, we aren’t in dark dark dark red either :).
    I opened a few positions myself with quick scalps after the report has been released. (all greens but small greens :))

    Keep up the good work Mo!

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