This month's NFP is the best number in almost 3 years. 216K jobs added and the majority of those in private sector jobs. Unemployment fell to the lowest since the recession was declared 8.8% The fed "gurus" are all talking about not just ending QE2 but also a possible rate hike by the end of the year.
The US recovery seems the strongest of all nations world wide, with the US stock market rallying to were it was BEFORE the Leman Bros. crash. The only thing lagging behind is housing and that is as expected when banks are still using the "liars log" method of accounting but that too will begin recovering soon.
All of this "fundamental" news would seem dollar positive yet the currency PLUNGED against the EUR...GBP...CAD...CHF...AUD...and even the Mexican Peso one hour after the NFP announcement.
What the f**k?!!
Can anyone explain this?
The US recovery seems the strongest of all nations world wide, with the US stock market rallying to were it was BEFORE the Leman Bros. crash. The only thing lagging behind is housing and that is as expected when banks are still using the "liars log" method of accounting but that too will begin recovering soon.
All of this "fundamental" news would seem dollar positive yet the currency PLUNGED against the EUR...GBP...CAD...CHF...AUD...and even the Mexican Peso one hour after the NFP announcement.
What the f**k?!!
Can anyone explain this?