Signs Say Terrible US Jobs Report Ahead

Signs Say Terrible US Jobs Report Ahead

From blog.commonwealth.com

The official jobs report comes out this Friday. Expectations are for another slowdown, with about 175,000 jobs added, down from 199,000 in December. With everything that is going on, especially the number of people who have the Omicron variant and are presumably not at work, that would be a great result. Unfortunately, the real number is likely to be well below that and will probably be negative—maybe significantly so. Bad News in ADP Report We got a heads-up on that from yesterday’s ADP report, making a very weak result much more likely for the official jobs report on Friday. According to Capital Economics, the ... (full story)

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cdsaa

Feb 4, 2022 5:49am

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expectations are USD will get weak.. if it goes otherside, there will be a huge spike.

rashadali

Feb 4, 2022 6:04am

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lets see, I smell stong manipulation here

Mitiblotch

Feb 4, 2022 1:06pm

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These are brown envelope journalists. Paid to write folk. The whole thing is choreographed, like an orchestra. These guys are paid to shift the herd to one side while the criminals take the other side. Same old, same old.

skillz16

Feb 4, 2022 7:40am

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LOL - the expected vs. actuals looks terrible on this one... looks like forecasters capitulated to the terrible numbers at exactly the wrong time... they were 1000% wrong, at least so far it looks to me.

So if the market believed this... expect EUR/USD dump now (strong dollar news). And expect SPY dump, based on the fact people worried this along with hourly earnings... will withdraw even more stimmy.

Faceplant?:

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skillz16

Feb 4, 2022 7:46am

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Think about this though... the EUR and the main chief of that bank "spoke the EUR tighter" yesterday... ha that kind of stuff makes you wonder if they knew this all was coming...

EUR would want to buy time with their currency higher, since I suspect that means they can import fuel without inflation and at better terms.

But yeah, for now color me surprised if EUR/USD does not take back the entire jump it had on those "inflation" comments from them... ha

But there, there will still be a "doubt premium" - so traders will most likely keep it above where it was on the Euro area inflation talks of yesterday... but in my opinion, it should dump below. But I also would not be surprised for it to find a "Floor" there, even though it should not given all these #s.

PercyJames

Feb 4, 2022 7:47am

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Quoting skillz16

Disliked

... they were 1000% wrong, at least so far it looks to me.

Ignored

I think it played out exactly how they intended it, especially with the 'oh noes, covid' prelude ;p

cdsaa

Feb 4, 2022 8:25am

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yesterday the numbers are positive, and not sure what data they analysed, expected this to be positive for USD. anyway, wrong analysis on this article.