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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: gregor_us who wrote (1006)	3/2/2004 11:56:29 AM
From: mishedlo	Read Replies (1) of 116555

Dollar Buoyed by Jobs Optimism Tuesday March 2, 6:29 am ET By Charlotte Cooper LONDON (Reuters) - The dollar headed toward last week's four-week high on the euro and gained versus the yen on Tuesday, buoyed by optimism that U.S. jobs data later this week may show sturdier improvement over past months' figures. (snip) Dollar bulls have taken heart about the U.S. labor market after the jobs component of a February U.S. manufacturing index released on Monday gave its highest reading since 1987. Later on Tuesday, a U.S. job cuts report from outplacement firm Challenger, Gray & Christmas will garner market attention, with investors looking for additional signals of improvement in the labor market -- so far the weak link in U.S. recovery. "Lots of people have latched on to (Monday's) employment component and are suggesting that Friday's non-farm payrolls data may be slightly more upbeat than first thought," said Mark Henry, currency strategist at GNI in London. biz.yahoo.com (full article at link above)

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