For the USD there is plenty of different information out there. Yet, many of the top experts in the world market are all saying one thing about the USD and that is it will appreciate going forward. Millan Mulraine believes even with the poor job results in September the reports will be better going forward. According to Mulraine it was not that people were not looking for work, but that a technical glitch happened so the readings were inaccurate. In currency trading it is a tough job to read between the lines.
Will Currency Trading See More Jobs?
Jobs reports for August in the USA are supposedly at the lowest level they have been since 2006 April. Yet Mulraine believes it to be a glitch with processing information. Mulraine believes there is enough evidence to show the job market is strong and that the USA economy is strengthening enough that a taper will be fine. In fact Millan does not feel the economy will stop slowing its pace when the stimulus is removed.
There are a couple of things about to affect currency trading as the year starts to come to a close. Already things are being seen in local markets with regards to jobs. Plenty of locations had help wanted signs up for several weeks. Halloween stores, which are huge in the USA, are looking for help. Halloween jobs are temporary; however, it gives a boost to the nonfarm payroll information. This tends to help support the USD. Halloween is also the start of the holiday season, where many jobs will be opening up for November training to be ready for Black Friday and through the Christmas season. It is bound to help currency trading numbers for the USD when the job growth increases as it always does this time of year.
GBP Currency Trading Data
While looking at the USD additional information was seen about the GBP. The GBP has also suffered in recent years due to the two recessions that hit the U.K. However, the U.K. is starting its repair and growth is likely to pick up as will demand. Productivity is set to increase quite sharply with unemployment numbers to decrease according to David Miles of the Bank of England.
Currency trading data from the Bank of England supports a definite recovery for the currency and the economy. There are still some concerns for the strength of the economy as it will take time. Unemployment numbers are still not going down quickly, but there is still evidence to support things will be better. The inflation details have somewhat clouded the issue too. The Bank of England is looking to decide if interest rates should increase, which would affect currency trading of the GBP.
Both countries, USA and U.K., are seeing some positive recovery results to the point many in the central banks believe it is time to move forward and let the last few years go. The global recession is going to draw to a close and both countries are in a position to see better futures, at least according to the signals being seen at the moment.
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