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US jobless data rocks the markets...

US jobless data rocks the markets...US jobless data on Friday jumped to 8.1% according to figures from the Labour department. The data compounds the weakness in the labour market with jobs being cut in most sectors. The repurcussions of this data was a sharp sell off in Asian equities which fell to a 26 year low following the news: Japan’s current account deficit also recorded its largest current account deficit on record and its first in 13 years as the economy struggles to maintain its export market. To add to the global negative sentiment the World Bank chipped in and stated that the global economy will shrink for the first time this year since World War II. The contents of this report are for information purposes only. It is not intended as a recommendation to trade or a solicitation for funds. Currencies Direct cannot be held responsible for any loss or damages arising from any action taken following consideration of this information.

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