Dollar firms before payrolls, Greece unease simmers

Yahoo Finance ^ | Jul 2, 2015 | Marc Jones

[expat_panama]

LONDON (Reuters) - The dollar was near a three-week high on Thursday and world stock markets had a delicate feel, as the implication of U.S. jobs data later for a possible Fed rate hike added to Europe's uncertainty over Greece.

Chinese shares also remained in focus as they suffered another heavy tumble overnight to take their loses over the last six weeks to 25 percent, countering otherwise solid performances in the rest of Asia's main centres.

Europe's main bourses in London, Frankfurt and Paris and Milan opened largely flat having rallied on Wednesday but the mood remained skittish after hopes of a last minute aid deal between Athens and the euro zone evaporated.

A defiant Prime Minister Alexis Tsipras urged Greeks on Wednesday to reject an international bailout deal, wrecking any prospect of repairing broken relations with European Union partners before a referendum on Sunday that may decide Greece's future in Europe.

It ensured the region's bond markets started the day in the red and the euro slipped again too with the added factor that a strong set of U.S. jobs figures later will increase expectations of a Federal Reserve hike in September or a least this year.

Economists polled by Reuters expect the U.S. economy to have added 232,000 jobs in June after May's unexpected 280,000 surge. But strong private hiring figures on Wednesday left economists considering another bumper reading.

"You can see there is edginess in the market," said Kit Juckes, at Societe Generale in London.

"If you get something strong (in payrolls data) that really makes it look like the Fed are going to hike, with all the Greek uncertainty in the background too, you could really get some risk aversion breaking out."

[expat_panama]

Good morning and happy Friday on Thursday!  Today's the big data flood--

8:30 AM Initial Claims
8:30 AM Continuing Claims
8:30 AM Nonfarm Payrolls
8:30 AM Nonfarm Private Payrolls
8:30 AM Unemployment Rate
8:30 AM Hourly Earnings
8:30 AM Average Workweek
10:00 AM Factory Orders
10:30 AM Natural Gas Inventories

--my bet is we see a low unemployment rate w/ a few million more added in the jobless column.  Today's futures are upbeat for stocks'n'metals (+0.6% & +0.8% respectively) after yesterdays sagging metals and mild stock gains.

[Lurkina.n.Learnin]

And the DOJ is off on another looting spree. Airlines this time.

[Red in Blue PA]

Don’t worry, according to the Fed we are at full employment!

http://www.reuters.com/article/2015/06/30/us-usa-fed-fischer-idUSKCN0PA2J320150630

[VTenigma]

Lips must be in a permanent pucker from whistling past the graveyard for the last 6 years.

[Stand Watch Listen]

Don’t worry, according to the Fed we are at full employment!

David Stockman Shock Blog: The Real Unemployment Rate Is 42.9%.....Rush Limbaugh.com ^ | June 30, 2015

David Stockman: "There Are No Markets, Just a Raging Casino" ……David Stockman Contra Corner ^ | April 27, 2015

David Stockman Explains The Keynesian State-Wreck Ahead - Sundown In America…Zero Hedge ^ | 10-5-13 |

[expat_panama]

DOJ is off on another looting spree

DOJ subpoenas airlines over keeping ticket prices high  CNN 12 hours ago The Justice Department has sent subpoenas to several major airlines as part of an ... to take place -- including United and Continental, as well as American and U.S. Airways

[expat_panama]

Statistic	Actual	Prior
Initial Claims	281K	271K
Continuing Claims	2264K	2249K
Nonfarm Payrolls	223K	254K
Nonfarm Private Payrolls	223K	250K
Unemployment Rate	5.30%	5.50%
Hourly Earnings	0.00%	0.20%
Average Workweek	34.5

Claims are up, payrolls are down, but the unemployment rate continues to fall...

[citizen]

I reckon another half-million people “stopped looking” for work, so the UR drops.

What a joke of a stat. A joke, right....Except it isn’t funny if you don’t have a job and don’t even count in the stats anymore.

[Oatka]

The dollar was near a three-week high
Out fiat currency is better than your fiat currency.

The Dead Cat Bounce in graphic format.

[SunkenCiv]

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