ForexTribe is a french website mainly created to share graphic analysis and trade ideas on the Forex Forum.
UnemploymentTitle:
U.S. April hiring slows, jobless rate falls to 8.1 percent
(Reuters) - Employers cut back on hiring in April and the jobless rate fell as people gave up the hunt for work, a somber note on the economy that could hurt President Barack Obama's re-election chances.
Employers added just 115,000 workers to their payrolls last month, the Labor Department said on Friday.
It was the third straight month in which hiring slowed, keeping fears alive that the U.S. economy is losing momentum. It also dampens hopes that a stretch of strong winter hiring signaled a turning point for the recovery.
"It shows sluggish growth," said John Doyle, currency strategist at Tempus Consulting in Washington.
The unemployment rate ticked a tenth of a point lower to 8.1 percent, a three-year low, as people left the workforce. The jobless rate is derived from a separate ...
Title:
Dollar slips vs yen, trade volatile, after jobs data
(Reuters) - The dollar slipped against the yen in volatile trading on Friday after a key U.S. April jobs report painted a mixed picture about the health of the economy.
U.S. employers added 115,000 workers last month, well below expectations of 170,000, but the unemployment rate still fell to 8.1 percent and jobs growth data in previous months was revised upwards.
The disappointing headline reading will likely compound fears that the U.S. economy is losing momentum and fuel expectations of a third round of quantitative easing by the Federal Reserve.
"While certainly disappointing, today's employment report does have a silver lining - a drop in the unemployment rate with upward historical revisions," said Michael Woolfolk, senior currency strategist at BNY Mellon in New York.
" ...
Title:
U.S. Economy Probably Added 165K to NFP In April
It is indeed the most anticipated report from world's largest economy, showing employers in April probably added slightly more jobs than in March as well as a a steady unemployment rate in the same period, the Commerce Department may show at 08:30 a.m. in Washington on Friday.
Markets will be all eyes and ears for the U.S. economy and its infamous jobs report, as hiring in the U.S. probably built up. Payrolls probably rose 160 thousand last month, after climibing 102 thousand the month ago. Jobless Rate in the U.S. probably steadied at 8.2 percent from 8.3 percent.
U.S. Stocks futures were little changed ahead of the report, where Dow Jones Industrial Average futures expiring in June added 3 points to 13,146 as of 06:51 a.m. in New York, while Standard & Poor's 500 Index added 0.1 ...
Title:
European Market Update : 04/05/2012
Major European Services PMI again disappoints; Focus now on US April Non-Farm Payroll report
Economic Data
(EU) ECB: €983M borrowed in overnight loan facility v €638M prior; €805.7B parked in deposit facility v €803.1B prior
(RU) Russia Narrow Money Supply (RUB): 6.90T v 6.91T prior
(SE) Sweden Apr Services PMI: 48.6 v 52.6 prior (First contraction since Nov)
(ES) Spain Apr Net Unemployment M/M: -6.6K v -15.0Ke
(UK) Apr Halifax House Prices M/M: -2.4% v -0.8%e; 3M/Y: -0.5% v +0.4%e
(ES) Spain Apr Services PMI: 42.1 v 45.4e (10th straight of contraction)
(CH) Swiss Mar Real Retail Sales Y/Y: 4.2% v 1.1%e
(SE) Sweden Mar Service Production M/M: 0.9% v 0.4% prior; Y/Y: 2.8% v 1.5%e
(IT) Italy Apr PMI Services: 42.3 v 43.7e
(FR) France Apr Final PMI Services: 45.2 v 46.4e
(DE) ...
Title:
NFP Fever Heats Up
The markets have managed to shrug off some fairly dismal services sector PMI data from the Eurozone, as the US non-farm payrolls data comes into focus. Arguably the most important economic data release of the month, the markets expect 160k but our prop model suggests a slightly weaker reading of 136k. Labour market data in April was fairly mixed but the overall bias was to the downside with the 4-week moving average of initial jobless claims rising more than20k over the month.
Payrolls reports have the power to set the tone for how markets, and the dollar in particular, trade for the rest of the month. The weaker March NFP report stopped the rally in USDJPY in its tracks, for example. So what can we expect from today's report? Essentially the magic number is 200k – this is the amount of ...
Title:
Euro Declines on Downbeat Services Data, Eyes Still on U.S. Jobs Report
As this week comes to an end, markets are standing still awaiting the performance of the labor market in the world's largest economy for more details regarding the pace of recovery; however, markets retreated slightly against the low yielding U.S. dollar after the downbeat performance of the European services sectors which contracted significantly in April, raising fears of recession and deep contraction.
Investors are demanding more of the low yielding U.S. dollar in order to avert as much risk as possible, especially as this week comes to an end, where investors remain in the market awaiting the U.S. jobs report; however, at the same time they tend to avert risk therefore holding the U.S. dollar is the best choice, especially with speculation the jobs report will show improvement in the ...
Title:
Euro area services trail manufacturing to add to worries
Euro zone services data add to worries that euro area may be heading to a severe recession after today's report had showed further contraction with the beginning of the second quarter.
PMI services showed widening contraction to 46.9 in April from 49.2 in March, where the reading in Germany came in at 52.2 from a previous of 52.1.
The downbeat data comes after the manufacturing sector had also showed a widening contraction of 45.9 in April from 47.7 in March, where the reading in Germany slipped to 46.2 from a previous of 48.4 and in Italy it retreated to 43.8 last from 47.9 in March.
Accordingly, European PMI composite contracted further to 46.7 from 49.1 in March.
Meanwhile, there are worries the euro area would continue contracting in the first quarter to experience a technical ...
Title:
Dukascopy Morning Forex Overview : 04/05/2012
Fundamental Analysis
EUR
"Technically, easier monetary policy conditions should be currency negative."
- Jane Foley, analyst at Rabobank
The European Central Bank held key rate at 1 per cent on Thursday and told it expects a gradual economic recovery this year.
USD
"Labor market conditions have improved in recent months."
- Federal Open Market Committee
The number of Americans claiming for unemployment benefits tumbled to 365,000 in the week ended April 28 from 392,000 the week before, said the Department of Labor on Thursday.
GBP
"The service sector started the second quarter on a weaker note than in the first quarter, but continued to grow at a reasonable pace."
- Chris Williamson, chief economist at Markit
U.K. service sector growth slowed in April, Markit Economics data showed on ...
Title:
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 ...
|