Comment on the situation on a market 10.02.14

Disappointing non-farm monthly results

Traders were disappointed with non-farm payroll results. Expectations about the increase of the amount of new workplaces failed. According to the report there were 113000 new workplaces in non-farm sector against expected result of 189000. We hardly believe that US Federal Reserve will change the approach of stimulus reduction they mentioned in December due to bad weather conditions and poor non-farm payroll statistics. Some sort of workforce redistribution has happened in the market. Amount of work places in public sector decreased by 29000, but on the other hand amount of available work places in construction sector increased by 48 000. What is more, unemployment rate decreased from 6,7% to 6,6%.

Once US Federal Reserve mentioned that unemployment rate of 6,5% is a critical level when refinancing rate can be modified. That is why the first speech and appearance of new head of US Federal Reserve which will take place on Tuesday morning will be vital.

By now there is no activity in the market. USD decreased a little bit on Friday and traders are waiting for any new important news.

Semen Kamenskiy​