The report was very favorable for the US economy, shedding only 11,000 jobs in November. This is the fewest jobs lost since December 2007, the start of this recession, the worse since the 1930s. This gave the currency markets and the stock market some hope for continued signs of recovery.
The overall unemployment number released was down to 10% unemployment from 10.2%.
However, job creation is still so weak that more than 15 million out-of-work Americans face fierce competition for few openings. Until the economy starts adding jobs, we will not be out of the woods for a long time yet.
The news did really give the dollar a boost across all the major currencies. They all lost 2 to 3 cents (200-300 pips) to the dollar. Check out the pip intervals below, much higher than normal.
As for my trading, I did not trade today. Summerstreet is still looking into the discrepancy that happened on Thanksgiving Day. My account is still disabled while the inquiry continues.
For the week, the net pips is -820.2 pips, or 2.57% loss. This only included trading on Monday and very light trading on Wednesday and Thursday. No trades were made on Tuesday or Friday.
Here are the daily stats for Friday, December 4, 2009.
| Open | High | Low | Close | Pip Interval |
| GBP/USD | 1.6538 | 1.6673 | 1.6420 | 1.6450 | 253 |
| EUR/USD | 1.5052 | 1.5089 | 1.4820 | 1.4850 | 269 |
| USD/CHF | 1.0009 | 1.0190 | 0.9986 | 1.0162 | 204 |
| USD/JPY | 88.25 | 90.75 | 87.98 | 90.39 | 277 |
| GBP/JPY | 145.95 | 149.05 | 145.40 | 148.70 | 365 |
Because the inquiry is still ongoing, November statements will be delayed.
May the pips be with us!
The Pipmaster
Email: titangroupfx@gmail.com
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