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CAPITOL REPORT: Jobs Report Not As Weak As Headline Suggests
7 Jul 2006 source: morningstar.com

WASHINGTON (Dow Jones) -- The U.S. labor market was stronger in June than indicated by the tepid 121,000 growth in nonfarm payrolls. The data from the Labor Department released Friday paint a muddled picture. While job growth of 121,000 was less than the 175,000 expected by economists and far less than the 390,000 projected by the ADP index, other aspects of the report show a healthier labor ma ...


CURRENCIES: Dollar Hits -month Euro Low On Weak Jobs Data
7 Jul 2006 source: morningstar.com

The dollar tumbled to a one-month low versus the euro and a more than three-week low against the yen Friday after much weaker-than-expected payrolls data reinforced market expectations the Federal Reserve's interest-rate tightening campaign is coming to a close. Nonfarm payrolls expanded by 121,000 in June, lower than the 174,000 expected by economists surveyed by MarketWatch. The unemployment  ...


BOND REPORT: Treasurys Prices Higher On Weak June Jobs-growth Reading ...
7 Jul 2006 source: morningstar.com

Treasury prices jumped early Friday, putting pressure on yields, after the Labor Department reported that the nation's economy created jobs at a weaker- than-expected rate last month. A weakening labor market would help build a case for the Federal Reserve to halt its two-year-old regimen of interest-rate hikes, and the fixed-income market is eager to see the central bank stop lifting rates.  ...


US June job growth weaker than expected
7 Jul 2006 source: today.reuters.co.uk

WASHINGTON (Reuters) - U.S. employers added a smaller-than-expected 121,000 new workers to their payrolls last month, but the jobless rate stayed at a five-year low of 4.6 percent and average hourly earnings rose, the Labour Department said on Friday. The report was a modest improvement over May, when employers added an upwardly revised 92,000 jobs and lead the market to pare down expectations of ...


Japan raises annual growth target
7 Jul 2006 source: bbc.co.uk

Japan's government has raised its annual economic growth forecast, citing a pick up in domestic demand and stronger corporate profit growth. According to the Cabinet Office, gross domestic product (GDP) will increase by 2.1% in the year to 31 March 2007, up from a earlier target of 1.9% growth. The move will fan expectations that the Bank of Japan is set to raise interest rates for the first time in six years. Especially as a key measure indicated that price growth may have returned. Chang ...


Housing market counts the cost
7 Jul 2006 source: yorkshiretoday.co.uk

Nicky BurridgeHouse prices fell by 1.2 per cent during June as consumers worried about interest rate rises, and the heat continued to come out of the property market, figures showed yesterday.Britain's biggest mortgage lender Halifax said the drop, which followed a fall of 0.1 per cent during May, was the biggest monthly reduction in prices since October 2000.It said it reflected a softening in ...


Stocks to watch U.S. data
7 Jul 2006 source: today.reuters.co.uk

LONDON (Reuters) - The top share index is set to fall on Friday, ahead of closely watched U.S. jobs data and with little scheduled corporate news to sway direction. Financial bookmakers expect the FTSE 100 to trade between 12-13 points lower at the open, handing back some of the previous session's 63.3-point rise to 5,890.0. Dealers said investors were awaiting the outcome of U.S. non-farm payr ...


ECONOMIC REPORT: U.S. ISM Services Falls To 57.0%, More Than Expected ...
6 Jul 2006 source: morningstar.com

WASHINGTON (Dow Jones) -- The nonmanufacturing side of the U.S. economy expanded at a slower pace in June, according to the Institute for Supply Management. The ISM nonmanufacturing index fell to 57.0% from 60.1% in May, the industry group reported Thursday. This is the lowest level since January. Economists said the decline fit with the slower pace of activity in the second quarter, but dis ...


BOND REPORT: Treasurys Close Higher As Soft Data Ease Rate Fears ...
6 Jul 2006 source: morningstar.com

Treasurys closed higher Thursday, sending yields lower, as some softer- than-expected data helped ease the interest-rate concerns ignited the previous day by a surprisingly strong ADP jobs survey. The survey set a nervous tone ahead of the June jobs report, due for release Friday at 8.30 a.m. Eastern. Traders fear a strong rise in new jobs would encourage the Federal Reserve to continue raising ...


THE FED: Kohn Says Fed Would Act To Protect Dollar In Paring Trade Gap ...
6 Jul 2006 source: morningstar.com

WASHINGTON (Dow Jones) -- The Federal Reserve can best help any unwinding of the enormous U.S. current account gap by keeping inflation in check and making sure the public remains confident that the purchasing power of the dollar will not "erode unexpectedly," said Fed vice-chairman Donald Kohn. The nation's current account deficit, the broadest measurement of U.S. trade, is approaching a recor ...


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