By FXEmpire.com
Analysis and Recommendation: (close of Asian session)
The USD/CNY is trading at 6.3028 as the USD has picked up momentum against all of its trading partners in early trading on Monday. With Asia back from a on again off again week of holidays markets are now seeing normal volume again. The elections in France are over with the upset as expected with Hollande defeating Sarkozy.
After a negative jobs report in the US, speculators found a silver lining and are now looking for more “accommodation” from the US Federal Reserve, where last month Ben Bernanke said that the Fed’s would be willing to offer additional policy changes if it was required.
At the end of the week and through the Asian session on Monday, crude oil continued to fall trading at the 96.00 range, which is a huge positive for the USD.
|
AUD |
AIG Construction Index |
34.9 |
36.2 |
|
|
JPY |
Monetary Policy Meeting Minutes |
|||
|
TWD |
Taiwanese CPI (YoY) |
1.44% |
1.40% |
1.25% |
|
AUD |
Building Approvals (MoM) |
7.4% |
3.1% |
-8.8% |
|
AUD |
NAB Business Confidence |
4 |
3 |
|
|
AUD |
Retail Sales (MoM) |
0.9% |
0.2% |
0.3% |
|
AUD |
ANZ Job Advertisements (MoM) |
-3.10% |
0.70% |
|
|
IDR |
Indonesian GDP (YoY) |
6.3% |
6.3% |
6.5% |
|
CHF |
Unemployment Rate |
3.1% |
3.1% |
3.1% |
Economic Events for May 8, 2012
00:01 GBP RICS House Price Balance -10% -10%
02:30 AUD Trade Balance -1.40B -0.48B
06:45 CHF GDP 0.1%
06:45 CHF SECO Consumer Climate -18 -19
13:15 CAD Housing Starts 202K 216K
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
