Fresh Non-Farm Payrolls numbers, and the huge surprise with the dropping unemployment rate suggest that maybe Obama was right: the beginning of the end of the global recession. Great volatility in forex trading leaves the dollar slightly stronger. Drop in Unemployment Rate Non-Farm Payrolls printed a serious surprise: job losses in the US squeezed to 247,000 instead of 320,000 that were expected. The change in job losses is especially significant in comparison to last month’s job losses, that were revised to 443K. They originally printed 467K. The even bigger surprise was seen in the unemployment rate. President Barack Obama said that it’s likely to see an unemployment rate that is above 10%. Today, unemployment rate was expected to rise from 9.5% to 9.6%. This didn’t happen. The unemployment rate fell! For the first time since May 2008, the rate of people that are “job-challenged” dropped. Despite being a small change, from 9.5% to 9.4%, this change is very serious, especially in the atmosphere it creates. Barack Obama said yesterday that his administration’s action have helped the economy, slowing down the job loss rate. His words are backed today by the numbers. But we should be cautious: a one time surprise isn’t a trend. We’ve also seen how relatively good figures were later revised downwards… Forex Trading This big surprise made the forex markets go wild. Currencies went violently up and down. For example, EUR/USD traded between 1.4413 to 1.4272 around the release. Other pairs traded in a similar pattern. After these junps, things are stabilizing. For the greenback, they’re stabilizing higher. At the time of writing, EUR/USD is trading below the ranges seen during the day. So are other currencies. But the week isn’t over yet. The greenback could go even higher, erasing the falls that it suffered this week, or could go lower, in a “risk appetite behavior”. Will we see another “Friday effect” this week? I’ll update this post later on… Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next Forex Words for the Weekend – August 8 2009 Yohay Elam 13 years Fresh Non-Farm Payrolls numbers, and the huge surprise with the dropping unemployment rate suggest that maybe Obama was right: the beginning of the end of the global recession. Great volatility in forex trading leaves the dollar slightly stronger. Drop in Unemployment Rate Non-Farm Payrolls printed a serious surprise: job losses in the US squeezed to 247,000 instead of 320,000 that were expected. The change in job losses is especially significant in comparison to last month's job losses, that were revised to 443K. They originally printed 467K. The even bigger surprise was seen in the unemployment rate. President Barack Obama said… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.