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Forex Trading Reviews & News 
By: Sara Patterson
In response to the latest nonfarm payroll report, US stock futures fell sharply, expunging most of this week’s gains, and dashing hopes of a forthcoming economic recovery. As contrasted with Canada’s employment which rose in several sectors significantly more than expected, the us created only 18,000 new jobs last month, the lowest number in the past 9 months.
The US unemployment rate rose in June to 9.2%, up from 9.1% in May and the highest unemployment rate seen since December 2010. US President Obama will address these issues in detail on July 10 when he meets with eight bipartisan congressional leaders in yet another attempt to reduce deficits and to avoid defaulting on the country’s $14.3 trillion debts by raising the country’s debt ceiling.
However, the US stock markets was not the only one to tumble in light of the report. European markets nosedived as well, with the FTSE 100 in London tumbled 62.76 pointswhile the CAC 40 in Paris dropped 63.03 points. In Milan, the FTSE Italia was down 660.68, or 1.6 percent. The US dollar also plummeted against the yen.
