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POPSPayroll Thursday Out Today Non-farm payroll data is the most important data point for all financial markets an it is out today ahead of the Independence Day holidays in the US. The number for June is expected around -365k and unemployment is expected a touch higher at 9.6% from 9.4% previously. If we see a 10-20% deviation from the expected, then hang on to your hats.
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POPSForex news preview Volatility sessions of euro currency, will euro smash dollar again or will dollar fight back.
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POPSUSD Weakens Ahead of the FOMC Meeting Looking at the markets this morning sterling has made good gains against the USD and recovered some ground on the euro. The lack of further equity losses being broadly sterling positive. Tonight we have the monthly meeting on interest rates in the US, the FOMC meeting is not expected to move interest rates but they will comment on their QE measures introduced.
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POPSEurozone on the Back Foot The good news for Germany but has not helped the euro gain as the market takes other data with a heavy pinch of salt given the weaker sentiment shrouding the euro-zone and Germany.
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POPSMixed Reports from the Eurozone Once again we don't really know where we are in very jittery markets. Mixed Reports from the Eurozone have investors in various markets watching the charts closely.
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POPSMore on the Rise of the Euro-Right
Reason has a good post up discussing the rise of the Euro-Right. Moynihan dismantles a number of misconceptions by Left-wing pundits desperate to present the British National Party as a phenomenon of the Right. Here are some good posts about the BNP by Daniel Hannan. For instance: "BBC presenters keep calling the BNP "far Right"? Nick Griffin's acceptance speech: He wasn't going to talk about immigration policy he said, since everyone knew where he stood on the subject. No, his priority was to expose the way in which public assets had been privatized. Look at the BNP's manifesto: it wants nationalisation, subsidy, higher taxes, protectionism and (sotto voce) the abolition of the monarchy. And look at where its votes came from. The BNP is a symptom of Labour's collapse." http://blogs.telegraph.co.uk/daniel_hannan/blog/2009/04/24/new_statesman_bnp_is_to_the_left_of_labour http://blogs.telegraph.co.uk/daniel_hannan/blog/2009/06/08/2009_european_elections_ten_conclusions
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POPSCurrency Market Updates Sterling and the UK retails sales both dropped yesterday. I wonder why the powers that be are surprised. It just means more good trading opportunities for us!