(Archived document, may contain errors) April 19,1996 No. 97 WAGES, PROFITS9 AND INCOME: POLITICS VS. REALITY By Mark Wilson Rebecca Lukens Fellow in Labor Policy "On Labor Day 1995, the earnings of most American workers are either stuck in the mud or sinking. Profits are up. Paychecks are not." -Secretary Robert B. Reich, Labor Day Address, August 31, 1995. "The state of the Union is strong. Our economy is the healthiest it has been in three decades." -President Clinton, State of the Union Address, January 23, 1996 INTRODUCTION
Sterling is on defense with GBP/USD plunging back into yearly downtrend support- risk for major price inflection. Levels that matter on the weekly technical chart.
Australian Dollar losses keep mounting a massive reversal takes Aussie back towards yearly downtrend support. Levels that matter on the AUD/USD weekly technical chart.
Euro plunged more than 4.5% off the August high with EUR/USD now testing technical support at the yearly lows ahead of NFPs. Levels that matter on the weekly technical chart.
Oil prices plunged more than 6% this week with WTI now testing a critical support pivot- a BIG moment for Crude. The levels that matter on the weekly technical chart.