Currencies  |  December 07, 2012 12:37:20

Fed monitors the labor market outcomes USA The end of this week, it will be fully working in the sign of the U.S. market, which today's results will be all the more important that the Fed shall meet next Wednesday and will decide on whether or extend current QE3 or not. Consensus is directed to the fact that it would be extended because it expires at the end of Operation Twist (vs. long-term bond purchases. Selling short at the same volume). Today's results are interesting not just because it (also) because of Hurricane Sandy the number of jobs created very low, but even we can also see different development job creation and unemployment, modest due to moving the household during the survey OnThanksgiving. The market will probably have a dilemma, especially if the unemployment rate, the number of jobs created will be low. Awaiting 85 thousand. jobs, which is the weakest since June and 7.9% rate of unemployment. Calendar of consumer trust conclude today by the University of Michigan, which will be the first economic indicator of the U.S. in December. Pending comparable result as last time. Worse outcome could complicate the situation on the market. For precious metals and shares should ideally results were in line with expectations, that could trigger a strike on QE3 +.

Regarding fiscal cliff nothing new, despite the effort FORMING group of Democrats and Republicans (80 at a rate of 40/40), which is trying to push through a compromise proposal. This, however, faces the opposition of conservative Republicans, the Democrats did not respond.Nothing new neudialo are thus, only time will be mine.

Just yesterday, the euro began a sharp fall due behold expression of ECB governor Draghi (lower outlook for growth and inflation, rising appetite reduce your council rates), while the other bouts of sales came after nastúpení concern for the Italian government, which are becoming increasingly real. Largest coalition party, Berlusconi is Italy's Parliament People of Freedom (PdL) (Berslusconio of what should go to prison for tax fraud), which now leads secretary Alfano. Already before the time Berlusconi announced that the government puts (started to talk about it after proven guilty in tax fraud). Yesterday defected vote of confidence along with the vote on economic measures which Monti survived only because the PdL has gone from the Senate and vote against. They began to propagate noises that Monti submit his resignation.Yet failed, but subsequent development will be complicated because the PdL had heard that he still thinks, or let the government fall, or not.

This morning the euro's continued problems, the Bundesbank reduced the prospects for economic growth in Germany (today the industrial production data for October also dissembled) and the first time suggested that not just 4Q2012 will be negative, but maybe even the next. Peripheral bond yields after political excesoch in Italian and a little daring Italy and Spain requirements of the guaranteed bond yields began to gradually rise. Zahambiť will not let Greece, where banks still do not know, or will accept a retroactive purchase of government bonds (buyback) or not (accepted means get 30 40% principal, instead of waiting for the whole). The Greek buyback ends today at 18:00 and banks will have to be decided.If the situation has skomplikuje, the IMF will not be excluded from the project leaving endless rescuing Greece.

Views of the shares does not change, we need to move away from the Gaza 1400/1415, of 50-day average of kĺzavého still poses a big obstacle for bulls. We'll see whether today's FOMC rally will start the beginning of a stronger growth stocks. So if you start today. Yesterday we saw the first attempt, so far unsuccessful.

Author: Thomas Swimmer | TRIM Broker, as | Trading on exchanges TRIM Broker

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