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Hedge Fund Connect

The Non Farm Payrolls Surprise….

atiku
Written by Atiku Audu

The non farm payrolls data came out on Friday and was quite a surprise for the markets.

In May 2016, only 38,000 jobs were added in the non farm sector.  This is quite small compared to the 123,000 jobs that were added the month before.

It appears the rate of job creation in the US is slowing down.

I exited the position I talked about in this post once the news came out for a small profit of $700.00.

The other thing I wanted to point out is the rush to gold. Typically, when investors feel that all is not well with the US economy, gold becomes the safe haven asset and as a result we saw the prices move from about $1200/ounce to $1240/ounce.

See chart below:

 

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