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A great result for Obama
by Cals Mon 12 Mar 2012, 18:35
A great result for Obama
The good news just gets better.On Friday morning we had a great result for Greece, with overwhelming participation by private sector bond-holders in the bond-swap tender. On Friday afternoon, there was a great result for President Obama, with yet more signs of strength in the US labour market. Headline payrolls rose by 200k for the third consecutive month. Furthermore, whilst the unemployment rate held steady at 8.3%, household employment has grown significantly in recent months. It's worth noting that the labour force has increased by nearly 1m over the past two months, which explains the minimal decline in the unemployment rate. What we've seen in the past year and a half has been very positive and has shifted the outlook from one of years of further pain to one of light at the end of the tunnel. Unsurprisingly, the greenback greeted the jobs news with glee, the dollar index up 1% since early Friday. Technically, the dollar looks in good shape; as such, it is entirely plausible that the January high of 81.78 could be tested over coming weeks should the evidence of recovery in the US continue to show.
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The good news just gets better.On Friday morning we had a great result for Greece, with overwhelming participation by private sector bond-holders in the bond-swap tender. On Friday afternoon, there was a great result for President Obama, with yet more signs of strength in the US labour market. Headline payrolls rose by 200k for the third consecutive month. Furthermore, whilst the unemployment rate held steady at 8.3%, household employment has grown significantly in recent months. It's worth noting that the labour force has increased by nearly 1m over the past two months, which explains the minimal decline in the unemployment rate. What we've seen in the past year and a half has been very positive and has shifted the outlook from one of years of further pain to one of light at the end of the tunnel. Unsurprisingly, the greenback greeted the jobs news with glee, the dollar index up 1% since early Friday. Technically, the dollar looks in good shape; as such, it is entirely plausible that the January high of 81.78 could be tested over coming weeks should the evidence of recovery in the US continue to show.
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Cals- Administrator
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d have been right perhaps as often as seven out of ten times.â€
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