DislikedI read the nfp report. I could not find a single dollar positive sentence in the entire report. Factor in the ECB hike and fundamentally EUR/USD had no where to go but to the sky. so I traded that. I wont be bothering reading anymore release statements.Ignored
The good news on the NFP was that the bad news wasn't worse. Remember what the ADP showed? There was a possibility so see something really scary on the NFP.
As far as the number of jobs losses was concerned, if you look back at past eco slowdowns you'll see that a monthly job loss of 200k-400k was not uncommon.
The ECB hike was already factored in-the immediate movement was about where they would go in the future.
Besides, things are not so rosy in the euro area economy now-Denmark contracted and it's projected that Ireland will also (after growing over 5% in 2007). Italy, Spain and Portugal are in trouble. Goldman Sachs' assessment of the Euro banks looked pretty bad too...
They way things look now, I don't see any kind of paper as particularly desirable. Actually, I think one of the best investments you can make at this time is probably in canned foods...