Dollar Surges Against The Yen And Euro

  • November 4, 2005
  • Ashton Dorkins

The big news today was the release of
the October Employment Report (full
story). The Labor Department reported that Non-Farm Payrolls rose 56,000,
less than the 110,000 forecast, and the Unemployment Rate was 5%, slightly
better than expected.

The US Dollar Index is trading higher following the report as
the market figures that the report will not put an end to the Federal Reserve
rate increase. The Dollar hit a 26-month high versus the Yen and an 18-month
high against the Euro. The surging Dollar sent Gold lower. Gold experienced its
biggest weekly decline since January.

Treasuries closed slightly lower (yields higher) across
the curve. Energy futures closed lower as mild weather across the northern US
led to a drop in demand.

The grains and softs were mixed, while livestock closed
higher.

TradingMarkets Commodities Watch List

Commodity
(Symbol)		 Price Price Change % Change

Energies
Crude Oil (CL) 60.55
-1.23
-1.99
Heating Oil (HO) 179.50
-3.86
-2.11
Unleaded Gas (HU) 160.50
-2.18
-1.34
Natural Gas (NG) 12.04
-0.25
-1.99

Metals
Gold (GC) 457.90
-4.00
-0.87
Silver (SI) 757.30
+6.30
+0.83
Copper (HG) 182.60
-5.00
-0.66

Grains

Corn (C)

 195.50
+0.75
+0.39
Wheat (W) 311.25
-2.00
-0.64
Soybeans (S) 592.00
-8.25
-1.37

Softs
Sugar (SB) 11.56
+0.03
+0.26
Coffee (KC) 103.90
+0.25
+0.24
Cocoa (CC) 1344.00
-31.00
-2.25
Frozen Orange Juice (JO) 123.30
+1.70
+1.40
Cotton (CT) 51.44
-0.29
-0.56
Lumber (LB) 332.70
+7.70
+2.37

Livestock
Lean Hogs (LH) 62.28
+0.40
+0.65
Live Cattle (LC) 91.48
+0.57
+0.63


Economic News

Employment Report:

Non-Farm Payrolls, M/M Change – Actual 56,000 Consensus 110,000

Unemployment Rate – Actual 5.0% Consensus 5.1%

Average Hourly Earnings, M/M Change – Actual 0.5% Consensus 0.2%

Average Workweek, M/M Change – Actual 33.8 hours Consensus 33.7 hours

Ashton Dorkins

ashtond@tradingmarkets.com