Here’s an update on technicals, fundamentals and what’s going on in the markets.

In the US, Ben Bernanke, Federal Reserve Chairman, is about to speak in Orlando

 Last week excellent NFP figures were released with a 243,000 job gain and unemployment rate dropping to 8.3% in January from 8.5 in December. Both figures bit expectations leaving a lower chance for QE3. Will we see further improvement this year?

Here’s an update on technicals, fundamentals and what’s going on in the markets.

In the US, Unemployment Claims, important indicator to value the unemployed that are looking for jobs over the last month, rise of 1K is predicted up to 373K.

In the US, Federal Budget Balance, measures the difference between government’s income and expenses over the past month, further reduce is expected from -98.5B on November down to -138.0B now.

Last week Mario Draghi President of the European Central Bank lowered rates to 1.0% and announced new measures to aid the banks but made it clear that he opposes big bond buys meaning there will be no QE at this time. The ECB forecasts recession in 2012. Will these measures stop the “ticking bomb” situation in Europe? Let’s start:

Here’s a quick update on technicals, fundamentals and what’s going on in the markets.

Last week, 80K jobs were added in the US. Although it was a bit under expectations, the drop in the unemployment rate and upwards revisions of previous data offered  some hope. In Europe, the new president of the ECB decided to cut the rates by 0.25% in his first ECB meeting causing European markets to surge. However the political chaos in Greece over the EU bailout proposal keeps everyone edgy. Will Greece accept the bailout deal or quit the euro?

In the US, Unemployment Claims, weekly measurement to value the persons that had filed for unemployment insurance, rise is expected from 401K on the last week to 407K now.