Friday, December 08, 2006

Macro economics Pre-Market Report - Dec. 8, 2006

Increasing unemployment rate

Increasing Bond Yields

Rising oil prices

Economists surveyed by forecast that employers added a modest 105,000 jobs in November, up from 92,000 in October. That would be well below the average job growth so far this year of about 147,000.

The unemployment rate is forecast to edge up to 4.5 percent from the five-year low of 4.4 percent reached in October.

Oil price rose back above $63 a barrel in early trading. U.S. crude climbed 89 cents to $63.38 a barrel in electronic trading. Brent crude futures gained $1.21 to $63.78 in London.

prices edged lower ahead of the jobs report, with the yield on the 10-year note at 4.49 percent, versus 4.48 percent late Thursday. Bond prices and yields move in opposite directions.

The dollar rose against the yen and edged higher against the euro.

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