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"US economy loses a record 20.5 million jobs April
From CNN Business' Anneken Tappe
America lost 20.5 million jobs in April as the coronavirus crisis devasted the country’s labor market, the Bureau of Labor Statistics reported on Friday. It was the largest single month of job losses since the BLS began tracking the data in 1939.
The unemployment rate rose to 14.7%, the highest on record since the BLS began its monthly series in 1948."
DAX went up on this incredible data - no way to explain from economical view.
And it was NO exception - watch US indexes at the same time:
But so be it! The final movements will be seen on closing of the day and on starting next week. With so many jobs evaporated - the economy in USA will not have a decent up in the next months. Just to be sure that next month (here May) will present even more unemployed people.
The prediction was 15,5% and 14,7% are official - not far from the previewed data. Congrats!
In afterhours the DAX went up to 10991 (closing 22:00) which means again to the upper line of Kumo.
Despite all bad news to come about production, unemployment and stability there is still too much money around to give a fair value for pricing in the indexes.
Just my opinion - I can not see such development as good when we face the worldwide chaos for now and the next 2 years coming.
OK for the daytrader who cares just to have at least good volume and volatility. But it doesn't help to see a stable economy which is important for the longtime income for every country itself.
Unemployment leads to less consumption, less travel etc.. That leads to less or to none ore even negative tax paying and kills jobs in registration and finally gives a spiral in extremis for a hyperinflation which kills the worth of the connected currency. So prices are going up quickly, no back paying of debts (too expensive) and every stock of funds is melting like snow in the sun.
"The US government estimates that 7.5 million people are unemployed, which is not included in the official statistics. This means that the actual number of unemployed in the USA in April is likely to be much higher than officially stated.
The Ministry of Labour announced that 8.1 million people were reported as "absent for unspecified reasons" when the figures for April were collected. Normally, however, this figure is only 620,000.
"Our assumption is that these 7.5 million workers should have been reported as 'unemployed due to temporary layoffs'," said an appendix to the official labour market report. Had they been classified as such, the unemployment rate would have been 19.5 percent, it said.
The Ministry of Labour had officially set the rate at 14.7 percent. Outside of agriculture, 20.5 million jobs were cut in April due to the virus pandemic.The figures had nevertheless led to rising prices on the stock market. Analysts had previously expected 22 million new unemployed and a rate of 16 percent."
That makes sense. I guess all the manipulation will have consequences at some point...
Thank you for your valuable thread.
Have a good weekend, and, stay safe!!
since 2012... Thanks for following - seems to still show some interest
• happy trading
• plus happy reading all the journals and all the good input & feedback in other threads on nexusfi.com
• keep asking
• open your own journal or keep it updated
• stay cool when trading!
DAX gapped up on Friday after cash closing. Opened higher today with up gap.
Asia are Ø 1,4% up to Friday.
DAX still in Kumo (daily) on the top line.
DAX short 9:30 to 14:00
entry @ 10981
exit @ 10774
result +207 points **
GFIs1
** the gap to cash hours of 6th May 20 had been closed minutes before 14:00 @ 10775.
It is quite possible to see lower prices today - but the rules were a perfect setting for a good winner today - no need to search any longer
Attention to bitcoin holders: tonight will be the 3rd "halving" of the bitcoin. After every 210000 new blocks a next halving is foreseen. This takes around 4 years. The halving has volatility effects before and after this day. Here the price came down on last Friday midnight and gave some traders hard times as they could not close their position with certain brokers.
Halving in crypto currencies is a bit to compare to the futures expiring.
The followers even the longtimers got some feeling about the rules here that are different for every weekday. Even following just last 12 months - the rules can not be guessed in detail. Instead it is about a cascading rule set which implies a lot of different variables. That makes it even harder to program this "system". I did not change rules a lot. There were several very very rare occasions in the last 9 years of openly trading this system with announcing start and ending time in advance that some constellations came rarely. Such a case was to see last Friday as example.
In fact if the most easy rules are repeating quite often - then some difficult situations can easily be cut out by not taking any trade.
A very special thing about this system is that it is TIME-based and not PRICE-based. Such models are rarely to be found.
If I am asked if this system can be optimized then I just can say no because it went through many years (since 2012) with several problematic quarters and it just worked fine over time!
