By FXEmpire.com

Analysis and Recommendations:

Silver is trading at 30.228 up a few cents in today’s trading. Silver walked in gold’s footsteps, not missing a beat today. The entire metals array followed gold up and down, none making major headway.

After a confusing jobs report today shows a measly 130K new jobs well under estimate, but a drop in unemployment to 8.1%. This drop supports the thought that many people are just dropping off the rolls either have used up all of their benefits, or just given up.

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.

Originally posted here