Everyone who has slightly followed my take on the NFP report knows that I have not been in the camp which has looked at the NFP report with a positive outlook. Yes, we get over 200K jobs per month but the low quality and replacement of full-time jobs with part-time jobs is a big concern. The real unemployment rate remains very high and the labor force participation rate is very depressed. I expect a continuation in August and even if we get a headline figure above 200K as expected I would not be surprised if we clock in just below that. Either way the same trend is likely to continue and I urge traders not be fooled by the headline figure and take some time to dig a bit deeper to get the real story out of the US labor market. I am bearish on the US Dollar.