Jobs +38k, USD Sinks

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  • Post category:Economy

Well, talk about crosscurrents.  Job growth really took a hit.  The services stuff is still creating the jobs but the whole lagging mess dropped off in May (with unemployment actually dropping some more).


So May’s employment situation continues April’s deceleration.  You are free to view things as you will, but I for one am going to keep the Semi equipment sector in view.  We could get a situation where the real time data sucks, the Fed takes an excuse to stand down and then things ramp up later, following the Semi equipment sector as is often the case.

But that’s all extrapolation.  Right now, people hate the US dollar again and are quickly adjusting back to a dovish Fed.  These could be the ingredients of a whopper of a coming ‘inflation trade’.  Precious metals, as always, are the early indicator there.  Meanwhile, here is Uncle Buck’s reaction to the report.


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