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NewsTitle:
European markets focus on NFP ignoring good German trade figures and surging U.K. PPI
The market continues to trade with a mixed sentiment, with European equities bouncing higher ahead of the infamous jobs report from the United States, while currencies are trading softer versus the dollar despite the early fundamental load from Europe.
We can see the sentiment still mixed after a very hectic week and the fluctuations seen yesterday following the ECB’s decision to raise rates and suspend the minimum collateral requirements on Portuguese bonds, alongside the upbeat ADP report that printed an optimistic overview for today’s nonfarm payrolls.
European markets started the day with upbeat data from the euro area, yet the focus remained predominantly on the debt woes that are still hurting the euro. The euro ignored the good German trade figures, where the surplus in May ...
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Gold rises, holds near $1,530/oz ahead of U.S. jobs
(Reuters) - Gold prices firmed on Thursday, but stayed around $1,530 an ounce, as most investors held onto current positions ahead of the next day's much-anticipated U.S. June jobs report.
Two U.S. labor market reports released on Thursday came in stronger than expected, but neither would necessarily translate into bigger-than-forecast payrolls growth for June.
"Prices will stay in range ahead of payrolls. Because, at this point, I don't think people want to get themselves too heavily involved in a position if they're not already in it," said Fred Schoenstein, precious metals trader at Heraeus Precious Metals Management in New York.
"We're going to sit tight until we see Friday's report."
Spot gold was at $1,531.86 an ounce by 3:00 p.m. EDT against $1,527.50 late in New York on ...
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Canadian Dollar Surge on Positive Employment Data
The Canadian dollar jumped on the positive report about the employment in the US and on the optimistic outlook for other employment reports from the US and Canada.
The positive report from Automatic Data Processing Inc. about the US employment improved mood on market. Market sentiment was already positive as the increase of interest rates by the European Central Bank and prospect for future increases made investors willing to buy riskier assets.
Today, the reports are expected to be moderately positive. Analysts estimated that the Canadian employers added 13,800 jobs in June, following the increase by 22,300 jobs in May. The US non-farm payrolls are expected to rise by 97,000 after they grew by 54,000 in May. The unemployment rate is expected to remain unchanged both in Canada and the US, ...
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US Employment Improves, Reducing Need for Swissie
The Swiss franc weakened today as the reports show that the employment in the US improved much more than predicted, reducing demand for the currency as a safe haven.
The US employers added 157,000 jobs in June, on a seasonally adjusted basis. That’s much higher value than the forecast 67,000 and a big improvement from the May change of 36,000. The unemployment claims slipped from 432,000 to 418,000 last week.
Demand for safe currencies also decline as President of the European Central Bank Jean-Claude Trichet signaled that he may raise interest rates again in the future months after he increased the main rate by 25 basis points today. The Stoxx Europe 600 index advanced 0.4 percent.
USD/CHF rose from 0.8392 to 0.8494 and traded at about 0.8446 as of 21:33 GMT today. EUR/CHF climbed from ...
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Gold holds steady in thin trade before U.S. job data
(Reuters) - Spot gold was steady in thin trade on Friday, ahead of a key U.S. employment report that is expected to show improvement in the labor market and boost optimism on prospects for the world's largest economy.
But stronger-than-expected payrolls data could ease fears that the U.S. economy remains in a prolonged soft patch, potentially undermining safe-haven demand for bullion.
Spot gold moved within a narrow $3 range and was little changed at $1,531.61 an ounce by 0616 GMT. Prices were headed for a weekly gain of 3 percent, its strongest week since the end of April.
U.S. gold edged up 0.1 percent to $1,532.30.
Inflation concerns in the euro zone and China remain supportive, after the European Central Bank and China's central bank both raised rates this week in a bid to tackle ...
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Brent crude falls below $118 ahead of U.S. jobs data
(Reuters) - Brent crude dipped below $118 on Friday, after sharp gains a day earlier prompted investors to book profits ahead of a key U.S. jobs report that will provide insight into the pace of economic recovery of the world's biggest oil consumer.
ICE Brent crude fell 72 cents to $117.87 a barrel by 0518 GMT, after falling as low as $117.62 earlier. U.S. crude was at $98.51 a barrel, down 16 cents. Oil prices are headed for their second straight weekly gain, with Brent poised to rise more than 5 percent this week.
Brent jumped on Thursday by the biggest percentage in two months, hitting a three-week high as U.S. data on jobless claims and retail sales came in stronger than expected.
That prompted several economists to raise forecasts for the government's non-farm payrolls count due ...
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Treasury market wilts as Fed waves goodbye
(Reuters) - The Federal Reserve's $600 billion Treasury buying spree is over and the bond market is growing nervous now that its biggest bidder has stepped aside.
Barring possible hiccups in August as Congress wrestles with the task of raising the legal borrowing limit, the government will go on issuing around $166 billion in Treasury bonds and notes a month, and primary dealers aren't quite sure where demand will come from, and at what price.
One possibility lies in investors such as foreign central banks, insurance companies and fund managers, but pulling them in may be tricky; some Treasury yields are near all-time lows. And for the first time since 2005, JPMorgan is reporting there are no long positions in Treasuries.
Where Europe's sovereign debt troubles once pumped up demand for ...
Title:
US Payrolls awaited by Forex Market
Forex Morning Briefing: US Payrolls awaited by Forex Market
What’s new:
Forex: Euro hangs on to gains after Trichet; NZD up to 30-year high
Global Markets: Stocks edge higher on better risk sentiment
Euro zone: ECB lifts rates to 1.50 percent
Euro zone: Trichet offers liquidity to Portugal despite ratings
United Kingdom: BoE keep rates, asset purchases unchanged
United States: ADP employment report shows 157’000 new jobs created in private sector
Rates in Asia and Indices:
EUR/USD: 1.4369 - 1.4334
USD/CHF: 0.8457 – 0.8439
GBP/USD: 1.5983 - 1.5939
EUR/JPY: 116.78 – 116.51
USD/JPY: 81.32– 81.22
DowJones: 12'719.49 +0.74%
NASDAQ: 2'872.66 +1.36%
S & P 500: 1'353.22 +1.05%
Nikkei: 10’137.73 +0.66%
Shanghai: 2’793.69 -0.02%
Gold: $ 1'532.00
Crude Oil: $ 98.63
Comments:
The euro held on to ...
Title:
Dukascopy Morning Forex Overview : 08/07/2011
Previous session overview
The dollar edged up against its major counterparts in Asia Friday as investors speculated that a key monthly U.S. jobs report later in the global day will come in strong, after separate employment data Thursday showed the labor market firming more than expected.
At 0450 GMT, the dollar was up at JPY81.27 from JPY81.24 late Thursday in New York. The common currency was at USD1.4338 at 0450 GMT, down from USD1.4359.
The ICE Dollar Index, which measures the greenback against a basket of currencies including the euro and yen, was up at 75.003 at 0450 GMT from 74.913 late Thursday in New York.
Risk-sensitive Asian currencies gained after the European Central Bank President Jean-Claude Trichet said Thursday, after the central bank raised interest rates, that it ...
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