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U.S. Jobs Report Hits Euro, Bonds And Gold

from Gold Silver Worlds:

Non-farm payrolls for November surged to 321,000, which was the biggest monthly gain since January 2012. This positive news on the labor market weighed on the 20+ YR T-Bond ETF, the Euro ETF and the Gold SPDR. Bonds were down because this puts more pressure on the Fed to raise rates in the middle of 2015. The Euro was down because US economy is growing much faster than the European economy and demand for Dollars is outpacing demand for Euros. Gold was down because the Dollar was up and there is less demand for a safe haven.

The first chart shows the Euro ETF in a strong downtrend defined by a Raff Regression Channel. Key resistance is set at 125 for the Euro and key support is set at 23.2 for the US Dollar ETF.

Read More @ GoldSilverWorlds.com

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