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Published on Nov 9, 2009
www.tradingfloor.com Horrible Data on Friday: Weekly Hours unchanged @ 33.0. Unemployment Rate @ 10.2%. NFP @ -190K DESPITE the Participation Rate dropping 0.1% points. Consumer Credit (Sep) out @ -$14.8B DESPITE CfC and before Citigroup hiked interest rates to 30% on credit cards. Nonetheless, markets kept the optimism and bounced back from the spike lower at the release. EURUSD edging higher and Treasuries are lower. Our stance today is a buy-on-dips, but there is no data to serve as a trigger. The Daily Trading Stance is published every day by Saxo Bank and sets the trading themes for the day. For more comment on FX, FX options, equities and commodities go to www.tradingfloor.com