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Friday, August 04, 2006

Dollar Remains Soft After Non Farm Payroll Announcement

The big non-farm payrolls figure was reported this morning, and showed 113,000 new jobs created for the month of July. The unemployment rate moved higher to 4.8%, with hourly earnings up .04%. Despite the earnings growth, the market sees today's data as a soft, or "dovish" number, that decreases the likelihood of a Fed move next week. Read More....