What a bad number that was, we had 18k jobs created as opposed to the 105k expected, this was even more of a surprise because ADP came out 80k jobs better, and every indicator on other numbers pointed to a good number.
But there was some very dodgy business going on as it seemed someone had it just before the number, its an absolute scam as those people have totally cleaned up illegally in my view, but theres nothing you can do I guess.
Below is the chart of the Bund and Eurostoxx.
As you can see we had a 50 tick spike up in the bund in the minute before the release and a 13 spike down in the Stoxx in the minute before the number and then we had the big move on the official release. I guess those in the know will always be ahead of us retail traders.
With this number I think we can get some type of correction after the monster rally we have had in stocks over the past week, so looking for weakness going forward.
Have a nice weekend
Thoughts and commentary on daily market action, plus my trade log in equities and futures.
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