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Thread: 10 July 2007 - E/U comment

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    Default 10 July 2007 - E/U comment

    A correction down to 1.3611or lower is now expected from 1.3625 or 1.3632. A break above 1.3653 is needed to to turn bullish

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    look at this.
    Job growth weaker
    Employers add fewer jobs than expected to payrolls as unemployment rate shows an unexpected rise.
    By Chris Isidore, CNNMoney.com senior writer
    August 3 2007: 11:01 AM EDT

    NEW YORK (CNNMoney.com) -- Employers added fewer jobs to payrolls in July, while the unemployment rate rose unexpectedly, according to the government's latest reading on the labor market.

    There was a net increase of 92,000 jobs in the month, down from 126,000 added in June, a reading that was revised lower in the latest report. Economists surveyed by Briefing.com had forecast a 135,000 gain in July.
    greenback bearish rally was really supported by this news.
    now eur/usd topping again 1.38 ground.

    why this new was so important. because this news could make soft the impact of subprimes since that could signal companies were healthy and hiring. but the real news is totally different. usa economy is not in a good moment and the credits damage has not been contained.
    greenback currency is showing many mixed signals around the world and is losing share. what you think many countries are gonna do with the mess in usa? they probably are gonna stop lossing and start exchanging reserves to euro.

    i am in venezuela and my country last week has aproved changing more national reserves to be converted into euros.
    the goverment is even planning to start selling oil in euros like iran wants to do, rusia too.

    somethings is sure, the one who really get in touch with the news, is gonna get the sm_win

    i am running a program called RTTNews (google it) . its free and i have made big pips with this prog, i have inmediate information when a new is going out or is gonna be released.

    hope this helps.

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