He was not quite so straight-forward but the message is the same: the impact of of the economic slowdown on unemployment will continue. Translation: Unemployment is headed up further.
EUR/USD is consolidating losses after reaching 1.3384 earlier. We trade at 1.3280 despite a 1.5% rise in US equity futures. 1.3245/50 is solid support on pullbacks though trailing stops are gathering around 1.3240.
