Interesting reaction to the stronger than expected job numbers this morning.
First a quick downward knee jerk reaction across the board, then everything seemed to bounce back or at least find support.
Silver and Gold fell hard then retraced half of the fall and are currently back to exactly where they were Thursday morning.
The move down basically only erased yesterday afternoon.
The rest of the market is reacting similarly. Though it's too early to tell. This afternoons price action will be what to look out for.
My opinion is that there was a stark difference between what ADP reported and what we got this morning.
Who is lying?
ADP doesn't have a reason or any interest to gain from 'messing around' with the numbers, but we all know who does. And we've known this since the last Labor Numbers person was fired for being honest about job losses.
Could it be that the market is also weighing this possibility? There's another week or two of Data to look at before the Fed decides, maybe that's what the market will wait for.
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Posted Yesterday 12:23 pm
