By Chris Becker
The October non-farm payroll (NFP) print came and went on Friday night with no surprises, although a little on the disappointing side, it still pushed the headline unemployment rate down to 4.1% and reinforced the Federal Reserve’s resolve to hike interest rates sooner rather than later. While the longer term trajectory is unknown now with a new head to the Fed – Jerome Powell, a somewhat dove – the short term is clearer. USD rose and the undollars fell while Wall Street continued ever higher!
As usual for Monday mornings, I’ll take a step back and look at markets with a longer term view as my “Trading Week”.