Friday 3 April 2015

Good news is bad news?

Even though the US markets are closed for Good Friday, there will still be a monthly jobs report (8.30am EST). As ever, the issue is not so much what the actual number will be, but whether the market is in the mood to deem it 'good news as bad news'.. or perhaps 'bad news as good news'.


sp'weekly7


Summary

*it is notable that despite the huge Monday gains, the weekly 'rainbow' candle - which was green at the Monday close, still settled blue (threshold for red was close.. @ sp'2065).
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Market is expecting net job gains of 247k, with a static headline jobless rate of 5.5%. Despite the recently weak econ' data, I'd not be surprised at a number above expectations.

Of course, any number much above 250k will concern the mainstream that rates will be raised at the June FOMC. That would likely see futures take a dive lower, but even then, it is a long time for the bears to wait until the Monday open.
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A tiresome day... I'll leave it at that.

Goodnight from London

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*there will be a post early Friday, with an update on the futures market reaction to the latest jobs data.