Daily Delphi

Post: Tuesday Non-farm Payrolls 10/22/13 | Daily Delphi

BlogsPit Talk › Tuesday Non-farm Payrolls 10/22/13 October 22, 2013, 6:50 am

MONDAY RECAP
The equities chopped around, gold wanted to be a physical commodity and oil couldn't find a buyer.
Monday saw a pretty typical day for the day before Non-farm Payrolls. Oil trended down most of the day after the EIA number showed a stronger than expected build of +3.999M. Even with encouraging economic data out of China oil only saw the light of day briefly, settling down -1.43. Gold on the other hand exhibited some of the normal traits of a physical commodity rather than a hedge product. Instead of breaking on everyone else's good news, gold held its own settling up +1.2.

TODAY'S ACTION
7:30AM CT
Non-farm Payrolls Forecast 173K Prior 169K
9:00AM CT
Construction Spending Forecast 0.3% Prior 0.6%

Today the markets are watching for the September Non-Farm Payrolls. Better late than never. The data is going to start showing the size of the effects of the shutdown showdown on economic growth. Traders are quick to note that any bad news will definitely keep Big Daddy on the sidelines but any good news could have been better. Trade Wisely


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