Friday, August 6, 2010

Unemployment Situation & Coffee Update

Total nonfarm payroll employment declined by 131,000 in July, and the unemployment rate was unchanged at 9.5 percent. Federal government employment fell, as 143,000 temporary workers hired for the decennial census completed their work. Private-sector payroll employment edged up by 71,000.

Bureau of Labor Statistics

Mediocre Jobs report. I was looking for Private sector jobs to hit the 80,000 mark. Private sector growth is the only viable solution to the unemployment epidemic.

SPX Futures are in the red. European Equities lightly rally. Crude Oil off 0.60 to $81.41/barrel. December Gold COntracts touched $1200/Troy Oz. EUR/USD back up over 1.32. The pair rallied about 70 Pips on the unemployment announcement. WHeat prices continue to climb, with September contracts up $13.25 to 799/bushel.

Related ETFs: ELEMENTS Linked to the S&P Commodity Trends Indicator - Total Return (LSC:US), iPath Dow Jones-UBS Grains Subindex Total Return ETN (JJG:US), ELEMENTS Linked to the Rogers International Commodity Index - Agri Tot Return (RJA:US)

Patrick M. Ambrus
Analyze Capital LLC
Twitter: Analyze Capital

No comments:

Post a Comment

This Blog has been developed by Analyze Capital LLC, and as an independent organization we provide “AS IS” information without warranty. The ideas and opinions expressed by the contributers of this blog are personal and do not represent the actions or policies of Analyze Capital LLC. The contents of this blog do not intend to assert recommendations or to offer advice of any kind. We are not responsible the consequences, be they gains or losses, that may result from using any of the information from this blog.