Anyway, here was the headline of this week's report, which went out on Monday:
Inside the report I wrote the following:
The news is good, but I would be remiss if I didn’t tell you that I have concerns.
The numbers make me wonder whether or not there is actually something going on with the labor market that has not become obvious yet in the general economic data, but is certain to show up at some point. Could that “point” be this Friday when we get the May jobs report? Forecasts are calling for a modest gain in nonfarm payrolls of 155k and a 4.9% (unchanged) unemployment rate. We could come in on the low side given the data that I am now seeing.And what happened? We got this very weak nonfarm payroll report today. In addition, I predicted a rally in Treasuries, a selloff in the dollar and mixed reaction in stocks. EXACTLY what we are seeing today.
I am getting emails today from subscribers that go like this:
"Thanks Mike. I just made 100 pips on my Euro position."
"You nailed it. Man, you are good!"
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