Thursday, February 03, 2005

Non-Farm Payroll Report

On the other hand, the calm may be due to traders squaring up their positions before the twin events tomorrow morning of the Non-Farm Payroll Report, notoriously unpredictable but expected to come in around 190,000 jobs created, and Chairman Greenspan's words on the balance of payments. Either or both of these events may shake the markets out of their range bound condition. I'm betting on a continuation of the range, due to the parity in interest rates. But of course, I'm willing to be wrong and jump the other way if the market changes direction.

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