Tomorrow"s release of jobs numbers and unemployment rate
Tomorrow jobs numbers should be extremely interesting. So much riding on these numbers. If unemployment rate goes up, then Obama's headwinds for reelection may reach hurricane strength. So whatever number the BLS comes up with, it certainly should be carefully considered. Will the overall labor force shrink AGAIN? How many fictitious jobs will be created via seasonal adjustments and the "birth/death" assumption regarding new business formations? Is the BLS nothing more than a political hack of the Administration?
More importantly, a favorable jobs number should give a boost to the U.S. dollar which will negatively impact gold and silver and vice versa if the job numbers turn out to be weak. Most economists expect no change in the unemployment rate.
Hang onto your hats. Tomorrow could be a very interesting trading day.