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Thursday, March 09, 2006

U.S. Trade Gap Climbed To Another Record

Today we learned that the U.S. trade gap climbed to another record -- $68.5 billion in January, while jobless claims rose above the psychological 300K barrier to 303,000 in the latest week. Naturally this is Dollar-negative news, although the more telling number will be tomorrow's non-farm payroll number, which is expected to be near 225,000. If tomorrow's number is soft, analyst may need to reevaluate their assumptions about the strength of the jobs market, after being reminded of the "twin deficit" concern this morning. Read More....