Today is Tue, May 30, 2017 7:26:58 GMT
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Contributors Unemployment & ISM Services Data Shows Things are Slowly Improving in the U.S. for Now

Amazingly, as we get closer to a presidential election, the employment data starts to improve. There were 243,000 jobs added. 

The unemployment rate continues to slowly head lower, which is encouraging. It came in at 8.3% vs. 8.5% formerly. Also, the ISM Non-Manufacturing (Services) PMI came in much better than expected. Check it out below. Click on the chart to enlarge it. 

The services sector of the U.S. had a huge boost, which is good because we’re such a service-oriented society anymore. Also, it’s good to see that the unemployment rate is slowing ticking lower. 

These are just further confirmations right now that it’s the “right trade” to make by being on the bullish, risk-on side of things rather than on the defensive side for now. 

Don’t get me wrong…there will be some huge pullbacks along the way. One likely may be coming soon since we’ve seem markets head higher quite consistently since the first of the year. 

In “currency land” this means that largely, a bet against the dollar is more favorable right now…and a bet for the commodity-currencies like the Aussie dollar, New Zealand dollar and Canadian dollar are more favorable. These are all “inflation plays” and I believe we’ll see much more of it in the future months despite what the Fed says. I’d rather trust a commodity chart any day over Fed-speak. 

By playing the “inflation trade” my latest trade is up about 80 pips already and this trade just got started. Inflation will not devour my Currency Cross Trader subscribers’ wealth. Instead, we’re attacking inflation head-on! 

Sean Hyman
My E-Book
info@worldcurrencywatch.com
Editor, Currency Cross Trader

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