By FXEmpire.com
Analysis and Recommendations:
The GBP/USD is down trading at 1.6146, after falling in today’s session. The USD lost some strength but recaptured in later trading today, after the 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.
Investors appear to have factored in a victory by Socialist challenger Fran?ois Hollande in France’s presidential election, but fear a potentially chaotic Greek parliamentary election could trigger renewed market turmoil.
The Society of Motor Manufacturers and Traders, or SMMT, said Friday the April new car market rose 3.3% to 142,322 units-exceeding its forecast by 1.9%-and has now raised its 2012 forecast 0.4% to 1.948 million units
There was little else this session. It will be a quiet weekend while markets wait for the election results from France.
Economic events for May 4, 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 |
|
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
