Encouraging us data: Fed tapering coming soon …
Today : Friday December 6th 2013, The government's November employment report showed Nonfarm payroll growth of 203,000 jobs and an unemployment rate that dropped to 7 percent.
Analysts expected that 180,000 jobs were created last month, with unemployment marginally lower at 7.2 percent.
Investors are asking whether the jobs data will push the Federal Reserve to decide later this month to start scaling back its $85 billion monthly quantitative easing bond purchases.
Another
Data also on Thursday showed the economy grew faster-than-expected in the third
quarter (GDP rose to 3.6%).
The
Fed has made its stimulus efforts to consistent improvement in the job market.
Chairman Ben Bernanke has said before
that the Fed will ease its monthly purchases of $85 billion in bonds once jobs
creation has improved consistently.
The
recent US economic improvement has been
surprising many economists expected the
government shutdown in October to hamper the growth. Yet the economy improved along without
much interruption, according to several government and industry reports.
So we
can see that the recent published data is very important as it will help form a
lot of market opinions ahead of the FOMC (Federal Open Market Committee) in
just less than two weeks.
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