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Trading news
3 May 2013
Session Recap: Majors consolidate ahead of NFP
FXstreet.com (Córdoba) - The US dollar trades a tad weaker on Friday as investors await the US NFP data scheduled for 12:30GMT, with consensus calling for a 145,000 gain in April.
Regarding market's reaction to the employment report outcome, the TD Securities team comments that for risk assets 'bad news is good news' with a disappointing payroll number today likely to boost expectations that the Fed could extend asset purchases, boosting stocks and commodities and undercutting the USD (and vice versa).
EUR/USD managed to trim part of yesterday's losses and climbed back above 1.3100 after Nowotny said markets overinterpreted deposit rate signal. Meanwhile GBP/USD continues to consolidate around 1.5550, while USD/JPY hovers around 98.00. Equity markets are mixed in Europe but commodity prices are slightly firmer.
Main Headlines in Europe (in chronological order):
ECB’s Nowotny: Markets overinterpreted deposit rate signal
Euro rallies as Nowotny tries to play down ECB depo rate comments
Commodities Brief – Precious metals edge higher ahead of Nonfarm Payrolls in US, crude trading at 200-day SMA
UK: PMI Services rises to to 52.9 in April
EMU: Annual PPI grows 0.7% in March
European Commission: EU economy to start recovering in 2H2013
European markets little higher as US NFP demands caution
Euro… after the fallout
Regarding market's reaction to the employment report outcome, the TD Securities team comments that for risk assets 'bad news is good news' with a disappointing payroll number today likely to boost expectations that the Fed could extend asset purchases, boosting stocks and commodities and undercutting the USD (and vice versa).
EUR/USD managed to trim part of yesterday's losses and climbed back above 1.3100 after Nowotny said markets overinterpreted deposit rate signal. Meanwhile GBP/USD continues to consolidate around 1.5550, while USD/JPY hovers around 98.00. Equity markets are mixed in Europe but commodity prices are slightly firmer.
Main Headlines in Europe (in chronological order):
ECB’s Nowotny: Markets overinterpreted deposit rate signal
Euro rallies as Nowotny tries to play down ECB depo rate comments
Commodities Brief – Precious metals edge higher ahead of Nonfarm Payrolls in US, crude trading at 200-day SMA
UK: PMI Services rises to to 52.9 in April
EMU: Annual PPI grows 0.7% in March
European Commission: EU economy to start recovering in 2H2013
European markets little higher as US NFP demands caution
Euro… after the fallout