Mario Draghi of ECB was more hawkish than the consensus in his press conference yesterday after ECB meeting. Today we see euro strengthening against the dollar even after an extraordinarily strong jobs report.
Market participants are beginning to think that monetary policy will tighten in Europe at a faster rate compared to the tightening in the U. S.
Trump’s First Jobs Report
After strong ADP report, Trump’s first official jobs report was expected to be solid. Non-farm Private Payrolls came at 227K vs. 185K consensus.
Week to date Funds Flows
Regression Lines
As of now, waiting for the closing weekly print.
SPX negative, NDX postive and DJI negative.
