Traders Look Ahead To Payrolls Data

In today’s economic news,

the Bank of England kept interest rates on hold at 4.5%. The US Trade Deficit
widened more than expected in January, to $68.5 Bln

Initial Jobless Claims rose more than expected, rising above 300,000 for the
first time since January 7


Today’s headlines had a rather subdued affect on the market ahead of tomorrow’s
Employment Report. The consensus estimate for Non-Farm Payrolls is 220,000.

Treasuries closed slightly higher in light trading. The government auctioned $8
Bln in 10yr Notes with a yield slightly below the pre-auction estimate.

The US Dollar rose against all the majors, with the best gains coming against
the Yen and Canadian Dollar.

Crude Oil, Unleaded Gas and Heating Oil rose. Natural Gas closed slightly lower
despite the EIA reporting a drop in stockpiles of 85 BCF.

Economic News

Bank Of England Keeps Benchmark Interest Rate AT 4.5%.

US Trade Deficit Widens To $68.5 Bln In January (report).

Initial Jobless Claims Up 8,000 To 303,000 (report).

EIA: US Natural Gas Stockpiles Fell 85 BCF Last Week

Ashton Dorkins

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