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Claims Data PointedTitle:
Facebook IPO Fails to Make a Dent in the Marketplace
Following weeks of speculation regarding how Facebook's debut on the New York Stock Exchange would turn out, investors were mildly disappointed with the social media site's performance on Friday night. Facebook closed out the week at 37.96, slightly below its opening price. What direction Facebook takes from here is a hotly debated topic among market analysts. Some are warning that the site may be overvalued already, and Friday's disappointing performance could be a sign of things to come. That being said, any moves by Facebook to expand its already massive subscribership could generate excitement in the marketplace which could help boost the value of this site.
Economic News
USD - Dollar Comes off 4-Month High vs. Euro
The US dollar turned bearish against most of its main currency ...
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Oil falls on euro zone worries, weak economic data
Brent crude oil slumped more than 2 percent on Thursday, touching the lowest price since December, as investors avoided risky assets due to mounting fears that turmoil in Greece could spread to other stressed euro zone economies.
U.S. crude was down by less than Brent, which reduced Brent's premium against U.S. crude to below $15, from above $19 the previous session, as owners of the U.S. Seaway pipeline announced just after midday that its reversal was completed as expected.
The initial flow of crude that will head for the main U.S. refining center in Houston was to occur by the weekend, a development aimed at easing the supply glut of U.S. crude at the delivery hub in Cushing, Oklahoma. Easing that glut should narrow the premium that Brent has enjoyed over U.S. crude.
But market focus ...
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US Dollar Pulls Back as Risk Appetite Makes an Appearance
After a few days of gloom over Europe, risk appetite is making an appearance in the financial markets. US dollar is pulling back from recent highs against the euro and the pound, and heading lower as Forex traders look for a little extra yield, and as a degree of optimism is seen as moves are made to shore up Spain.
US dollar was headed higher today, moving up as news about Great Britain’s economy disappointed. However, the Bank of England put quantitative easing on hold, and it appears that the body is prepared to maintain that position. So, even with the British economy in recession, the pound is getting a slight boost against the US dollar.
Against the euro, greenback reached a three-month high. Uncertainty about Greece continues, and worries about the relationship between France and ...
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Weekly Economic and Financial Commentary : 04/05/2012
U.S. Review
Modest Growth on a Broadening Base
- The underlying tone of the recent economic reports remains consistent with modest economic growth. Consumer spending ended the first quarter on a solid note and spending is now on track to grow at a 2 percent pace in the second quarter.
- Reports from the regional manufacturing surveys showed some weakness but the National ISM report came in stronger than expected. The nonmanufacturing survey, however, came in below expectations.
- Nonfarm employment rose by 115,000 jobs in April and the unemployment rate fell 0.1 percent to 8.1 percent.
Modest Growth on a Broadening Base
This week's ISM report came in better than expected, rising 1.4 points to 54.8 in April, which greatly relieves fears built up from the weaker factory orders ...
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Major Currency Cross Rates Little Changed Ahead Of The Payrolls
Sunrise Market Commentary
- Fixed Income ECB can't move global bonds
- Global core bonds ended the session unchanged, as initial disappointment that the ECB wasn't more dovish dissipated fast. Today's payrolls are key and might decide whether the 6-week rally is over or has one more leg.
Currencies: Major currency cross rates little changed ahead of the payrolls
- EUR/USD gained temporarily during the ECB press conference as Draghi was less dovish than some in the market had expected. However, the move was technically insignificant as sentiment on risk remained fragile. Today, the payrolls are the key factor for (currency) trading. Investors might stay cautions on the euro to avoid this weekend's political event risk.
The Sunrise Headlines
- US Equities dropped for a ...
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SunBirdFX Daily Market Analysis : 05/04/2012
www.sunbirdfx.com
Wall Street shed 0.70% yesterday on the background of mixed data. Continuing jobless claims were better than expected with 365K unemployment claims, whereas ISM manufacturing PMI was under Wall Street expectations. It seems that the NASDAQ index, which led the markets during the recent rally, is now the index that pulls the markets down, as the industry index, Dow Jones, has already reached the annual highs.
AUD/USD
The investors have waited for today since the beginning of the week to see the results of the Non-Farm payroll change, but according to the ADP data from Wednesday, they might get disappointed. Analysts' estimation for this data is 173K new jobs that the American economy created comparing to 120K on the previous data.
The Australian dollar has been sliding ...
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ECN monetary policy unchanged; Market cautious ahead of US jobs report
Forex Morning Briefing : ECN monetary policy unchanged; Market cautious ahead of US jobs report
What’s new:
Forex: Euro recovers after ECB President Mario Draghi’s news conference
Global Markets: Asian stocks close in positive territory
Euro zone: ECB leave rates unchanged at 1.00 percent, Draghi sounds less dovish
Europe: Focus on French and Greek elections this weekend
United States: Shares down before US jobs data release today
United States: Jobless claims fall to one-month low, today’s jobs report in focus
Rates in Asia and Indices:
EUR/USD 1.3144 1.3163 -0.00 %
USD/CHF 0.9129 0.9141 -0.01 %
GBP/USD 1.6177 1.6195 0.05 %
USD/JPY 80.14 80.28 0 %
EUR/CHF 1.2014 1.2017 -0.00 %
EUR/JPY 105. ...
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YouTradeFX Daily Market Analysis : 04/05/2012
Fundamental News
Today’s highlights:
· Halifax House Price Index (MoM) (GB, 08:00 GMT)
· Retail Sales (MoM) (EUR, 10:00 GMT)
· Nonfarm Payrolls + Unemployment Rate (U.S, 13:30 GMT)
· Ivey PMI (CAD, 15:00 GMT)
New claims for unemployment in the U.S. fell by 27,000 to a seasonally adjusted level of 365,000 and U.S worker productivity showed a 0.5 percent decline amid jump in hours worked, according to figures released Thursday by the Labor Department. The ISM said its non-manufacturing index dropped to 53.5 in April from 56.0 in March, although a reading above 50 indicates continued growth in the service sector.
The ECB left its key interest rate unchanged for the fifth consecutive month in May, as expected. ECB President Mario Draghi left open the option ...
Title:
Euro drops as uncertainty weighs before U.S. jobs data
(Reuters) - The euro slid against the dollar for a fourth day on Thursday as European Central Bank chief Mario Draghi gave a more upbeat assessment of the region's economy but left the door open for policy easing, keeping investors cautious a day before key U.S. labor market data.
Trade was choppy, with the euro temporarily bouncing from a two-week low, after Draghi said the euro zone economy was likely to recover this year, although the outlook remained vulnerable to downside risks. He spoke after the ECB kept rates unchanged at 1 percent.
While the euro initially rose after Draghi's comments, the "market reaction soon became muted because the ECB really did not change anything, and it was pretty much status quo," said Mark McCormick, G-10 currency strategist at Brown Brothers Harriman ...
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