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Stock Market & Financial Investment News

News For NOSYMBOL From The Last 14 Days
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February 5, 2016
10:05 EDTCanada Ivey PMI Preview
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09:38 EDTJobs data and oil weigh on market
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09:30 EDTEuro$ interest rate futures hit the deck
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09:15 EDTThe U.S. jobs data beat estimates by all metrics but payrolls
The U.S. jobs data beat estimates by all metrics but payrolls, which posted a restrained 151k headline gain despite an oddly robust 40k goods sector rise that defied weakness in other January reports. Annual revisions lowered the December payroll level by 105k, leaving a net upward revision for job growth since the larger 206k downward revision in the benchmark month of March. The workweek rose to a cycle-high 34.6 and hours-worked surged by 0.4%, though with a flat hours-worked figure for the goods sector, alongside an outsized 0.5% surge for average hourly earnings. Even the household sector beat estimates with gains of 615k for civilian employment and 502k for the labor force, though note that analysts often see big January swings in these measures, while the jobless rate plunged to a cycle-low 4.92% alongside a participation rate rise to 62.7%. The report will boost monthly estimates for January as well as prospects for Q1 GDP, though our estimate will remain at 1.8%.
09:15 EDTU.S. equities extended losses following payrolls
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08:55 EDTFX Action: USD-CAD popped up to 1.3805
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08:50 EDTU.S. trade deficit widened 2.7% to $43.4 B in December
U.S. trade deficit widened 2.7% to $43.4 B in December, from the $42.2 B November shortfall (revised from $42.4 B). Exports dipped 0.3% while imports rose 0.3%. Excluding petroleum, the deficit was $37.4 B versus -$36.8 B (revised from -$37.0 B). The "real" trade balance widened to -$60.3 B compared to November's -$59.2 B (revised from -$59.6 B), with real goods exports rising 0.2% and goods imports climbing 0.8%. The trade balance with Canada fell to -$2.2 B from -$0.5 B previously, but narrowed with China to -$27.9 B from -$31.3 B.
08:50 EDTTreasury Action: yields whipsawed
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08:45 EDTU.S. nonfarm payrolls rose 151k in January
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08:45 EDTFX Action: The dollar initially fell
FX Action: The dollar initially fell following the jobs report, where NFP missed expectations, though the unemployment rate fell to cycle lows of 4.9%, and hourly earnings rose more than expected. Dollar losses were short-lived, as major pairings quickly returned to pre-data levels. Meanwhile, the December trade deficit was in-line with expectations. EUR-USD popped to trend highs of 1.1255 from 1.1200 before heading briefly back under the figure, as USD-JPY dropped to 116.28 lows from 116.70, then bounced briefly to 117.05 before returning to 116.60.
08:36 EDTFutures move lower following jobs data
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08:32 EDTInternational Trade Balance Level data reported
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08:30 EDTJanuary non-farm payrolls rise 151,000, Unemployment rate drops to 4.9%
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08:25 EDTWisdom Tree Dreyfus Chinese Yuan Fund volatility flat on tight price movement
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08:25 EDTU.S. Trade Deficit Preview
U.S. Trade Deficit Preview: the December trade deficit is expected to widen by 4.1% to -$44.1 B (median -$42.9 B) from -$42.4 B in November. The already released advance trade data for December showed a widening to -$61.5 B from -$60.5 B in November with advance exports down 0.6% and imports up 0.1%.
08:20 EDTU.S. Employment Preview
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08:15 EDTFed funds are opening in the 0.38% area
Fed funds are opening in the 0.38% area. The funds rate ranged from 0.25% to 0.56% with a 0.38% effective. The effective has held tightly at that level for 9 of the last 10 sessions. Yesterday's reverse repo totaled $55.9 B, the smallest of the tightening cycle so far.
08:10 EDTCanada Employment Preview
Canada Employment Preview: Analysts expect employment to rise 10.0k in January (median 5.0k) after the 22.8k gain in December. Of course, momentum was lacking in the economy going into the new year (unless you were an auto dealer), which could restrain job creation. An as-expected gain would be welcome news given what should be a stall out in GDP growth during Q4, but the report is unlikely to significantly alter the views of those calling for a near term rate cut. The unemployment rate is expected at 7.1% in January (median 7.2%), matching the result in December. and our commentary "Canada's Expected Job Gain Comes with Downside Risk in January."
07:55 EDTEnergy Action: NYMEX crude
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07:30 EDTN.Y. FX Outlook
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