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Bingo Friday

By   || November 5, 2010 at 06:48 GMT
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I have been asked a question about tonights payroll data so I will try and give a brief overview. First off the new jobs numbers is expected around the +60k mark with analysts forecasts falling within a range  0 to 120K range (from Reuters). Last month there was a fall of 95k – they need around 100k each month just to break-even.

Tonights number does not seem all that important to me given that we have just had QE2 – if the number is bad then they will be talking about QE3 (buy more risk trades)…..if it is good well we still have QE2 (buy more risk trades).

Given the week we have had I think the market is just about done – I know I am. So not expecting much in either direction.

Things to watch now are Ireland – EUR/CHF and EUR/GBP moves last night – some say Ireland woes behind it. Next weeks leaders G20 summit or rather the bun-fight that is about to erupt between Asia and the US.

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