Forex Update

Investors are brushing aside the higher than expected Unemployment Rate since the number seems to have been priced in by weeks of disappointing Unemployment Claims data. Bulls are fighting to end the summer on a high note as investors get ready for the Labor Day holiday weekend. We recognize a nice pop in both the EUR/USD and GBP/USD while gold trades just under its highly psychological $1000/oz level. Additionally, the 30 Year T-Bond futures are experiencing a sizable pullback.