By FXEmpire.com

Analysis and Recommendations:

Crude Oil fell under 100.00 for the first time in months, speculators have run for the hills and crude is now trading where supply and demand dictates it should be.

Data showed that the U.S. economy created fewer jobs than expected in April, adding to worries about the health of the recovery. Crude dropped $4.32, or 4.2%, to $98.21 a barrel on the New York Mercantile Exchange. Weekly losses were hovering above 6%.

Economic events for May4, 2012 actual v. forecast

GBP

Halifax House Price Index (MoM)

-2.4%

-0.5%

2.2%

CHF

Retail Sales (YoY)

4.2%

1.2%

0.8%

NOK

Norwegian Unemployment Rate

3.20%

3.20%

3.20%

EUR

Retail Sales (MoM)

0.3%

0.3%

-0.2%

USD

Average Hourly Earnings (MoM)

0.0%

0.2%

0.2%

USD

Nonfarm Payrolls

115K

170K

154K

USD

Unemployment Rate

8.1%

8.2%

8.2%

USD

Average Weekly Hours

34.5

34.5

34.5

USD

Private Nonfarm Payrolls

130K

175K

166K

CAD

Ivey PMI

52.7

61.0

63.5

Economic Events for May 7, 2012 for the European and US Markets

05:45 CHF Unemployment Rate 3.1% 3.1%

The Unemployment Rate measures the percentage of the total work force that is unemployed and actively seeking employment during the previous month.

07:15 CHF CPI 0.2% 0.6%

The Consumer Price Index (CPI) measures the change in the price of goods and services from the perspective of the consumer. It is a key way to measure changes in purchasing trends and inflation.

10:00 EUR German Factory Orders 0.5% 0.3%

German Factory Orders measures the change in the total value of new purchase orders placed with manufacturers for both durable and non-durable goods. It is a leading indicator of production.

12:30 CAD Building Permits 7.5%

Building Permits measures the change in the number of new building permits issued by the government. Building permits are a key indicator of demand in the housing market.

WEEKLY

  • This Week in Petroleum
    Release Schedule: Wednesday @ 1:00 p.m. EST (schedule)
  • Gasoline and Diesel Fuel Update
    Release Schedule: Monday between 4:00 and 5:00 p.m. EST (schedule)
  • Weekly Petroleum Status Report
    Release Schedule: The wpsrsummary.pdf, overview.pdf, and Tables 1-14 in CSV and XLS formats, are released to the Web site after 10:30 a.m. (Eastern Time) on Wednesday. All other PDF and HTML files are released to the Web site after 1:00 p.m. (Eastern Time) on Wednesday. Appendix D is produced during the winter heating season, which extends from October through March of each year. For some weeks which include holidays, releases are delayed by one day. (schedule)

Originally posted here