By FXEmpire.com
Analysis and Recommendations:
The USD/CAD is trading at 0.9952 as the USD has again gained on the CAD, even after a disastrous jobs report. Just 115,000 jobs are created in the largest global economy during April, as the public sector sheds another 15,000 workers. A drop in the jobless rate to 8.1% mainly reflects an uptick in the number of people who stopped looking for work.
In Canada the Ivey PMI was release coming in way under forecast, markets were expecting 61.0 and the actual was only 52.7 disappointing economist as Canada has been barraged with a bunch of negative data since mid April.
With the price of crude oil falling to under 100.00, this has another negative effect on the CAD.
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.
Government Bond Auctions (this week)
Date Time Country
May 08 09:15 Austria
May 08 09:30 Belgium
May 08 14:30 UK
May 08 15:30 Italy
May 08 17:00 US
May 09 09:10 Sweden
May 09 09:30 Germany
May 09 09:30 Swiss
May 09 09:30 UK
May 09 14:30 Sweden
May 09 15:30 Italy
May 09 17:00 US
May 10 15:00 US
May 10 17:00 US
May 11 09:10 Italy BOT auction
May 11 10:00 Belgium
Originally posted here
