The exclusive Markets Morning Report is supplied by The Precision Report.
The Precise Take – Gains maintained on mixed employment stats
Big Picture Analysis: After a consolidation day yesterday, additional gains were tacked on in European trading, with the ES reaching 1262.75–a full 115 handles from the low one week ago. The headline payroll number missed slightly as we write, but prior months were revised upwards 158,000 and the household survey surprised, coming in at 8.6% down from 9.1%. With no major economic reports due in the US over the next week, markets are likely to be headline driven, especially on news regarding next week’s ECB and EC meetings (Thurs and Fri, respectively). 1235 is first major support, while 1270 is first major resistance.
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