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Stocks Finish Higher as Traders Anticipate Bullish Employment Numbers

Discussion in 'Forex Daily News & Outlook' started by futuretrends24, Jan 8, 2010.

  1. futuretrends24

    futuretrends24 New Member

    Apr 30, 2009
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    Today’s sample of Futures Analysis from FuturesHound.com

    Equity markets erased earlier losses after the release of the U.S. Weekly Initial Claims Report to finish higher for the day. Trading was light, but nonetheless, today’s strength is probably a good indication that investors feel that Friday’s report will be better than preliminary estimates.

    Treasury futures traded mixed but inside of their recent ranges as investors were reluctant to position themselves in front of Friday’s U.S. Non-Farm Payrolls Report. Trading was been light and directionless most of the day. The current range for March Treasury Bonds is 114’16 to 116’05. March Treasury Notes have fallen into a range between 114’28 to 116’08.

    February Gold was under pressure throughout the trading session because of the stronger Dollar. The current chart formation suggests a possible pull-back to $1108.10 - $1100.34. Downside momentum will depend on how strong the Dollar gets. The main trend is still up, however, with $1151.30 a key objective on the upside. Thursday’s weakness was most likely profit-taking ahead of Friday’s employment number.

    Read full article at full article at FuturesHound.com as well as Futures Analysis, Futures Education and exclusive timely market Gann Analysis

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