Menu

Search

  |   Market Roundups

Menu

  |   Market Roundups

Search

Europe Roundup: Euro steady as markets await key U.S. jobs data, European shares gain, Gold little changed, Oil heads for another weekly gain on demand hopes and shut-ins-May 8th,2020

Market Roundup

• German March Current Account Balance n.s.a  24.4B, 23.7B previous

• Finnish March Trade Balance  -0.27B, -0.77B previous

• German March Imports (MoM)  -5.1%    , -4.0% forecast, -1.6% previous

• German March Trade Balance  12.8B, 18.9B forecast, 21.6B previous

• German March Exports (MoM)   -11.8%,-5.0% forecast, 1.3% previous

• Russian May Forex Intervention -193.1B , -185.0B forecast, -77.8B previous  
 
• Canada April Housing Starts  110.0K forecast, 195.2K previous    

• Canada April Full Employment Change  -474.0K previous    

• Canada April Employment Change  -4,000.0K forecast, -1,010.7K previous

• Canada April Part Time Employment Change  -536.7K previous

• US April Average Hourly Earnings (MoM)  0.4% forecast, 0.4% previous

• US April Private Nonfarm Payrolls  -21,050K forecast, -713K previous

• US April Manufacturing Payrolls  -2,500K forecast, -18K previous

• US April Nonfarm Payrolls  -22,000K forecast, -701K previous

• US April Government Payrolls  12.0K previous

• Canada  April Unemployment Rate  18.0% forecast,7.8% previous

• Canada  April Participation Rate  65.1% forecast,  63.5% previous    

• US April Average Weekly Hours  33.7 forecast, 34.2 previous    

• US April Unemployment Rate  16.0% forecast,4.4% previous    

•Canada March Building Permits (MoM)  -20.0%    forecast, -7.3% previous  

• US April Participation Rate  62.7% previous    
• US April U6 Unemployment Rate  8.7% previous

• US Average Hourly Earnings (YoY) (YoY)  3.3% forecast, 3.1% previous

• Brazil Auto Production (MoM) -7.0% previous

•   Brail Auto Sales (MoM) -18.6% previous

• US March Wholesale Trade Sales (MoM)  -0.8% previous

• US Wholesale Inventories (MoM) -1.0%,-0.7% previous

Looking Ahead - Economic Data (GMT)

•No data ahead

Looking Ahead - Events, Other Releases (GMT)

• No significant events

Fxbeat

EUR/USD: The euro gained against dollar on Friday as dollar fell   as another report showed millions of more Americans were unemployed. Initial U.S. jobless claims for state unemployment benefits totalled a seasonally adjusted 3.169 million for the week ended May 2, down from a revised 3.846 million in the prior week, the Labor Department’s weekly jobless claims report showed. At (GMT 12:00), the euro was last trading up 0.07% at 1.0839. Immediate resistance can be seen at 1.0870 (9 DMA), an upside break can trigger rise towards 1.0884 (50% fib).On the downside, immediate support is seen at 1.0819 (38.2% fib), a break below could take the pair towards 1.0800 (Psychological level).

GBP/USD:  Sterling strengthened against dollar on Friday as risk assets cheered a surprise rise in China's April exports, hoping that the world's second-largest economy may be able to recover sooner than expected from a pandemic-induced lockdown.  The pound was broadly stronger against the dollar, was up 0.19% at $1.2378.  Immediate resistance can be seen at 1.2378 (5 DMA), an upside break can trigger rise towards 1.2426 (11 DMA).On the downside, immediate support is seen at 1.2347 (May 8th low), a break below could take the pair towards 1.2300(Psychological level).

USD/CHF: The dollar declined against the Swiss franc on Friday as  investors defied a broader sense of doom around upcoming U.S. employment data and found reasons to buy safe haven currencies with more governments slowly reopening their economies for business. The dollar’s index against a basket of six other major currencies slipped to 99.829 from Thursday’s high of 100.40. Immediate resistance can be seen at 0.9735 (Daily high), an upside break can trigger rise towards 0.9759 (6th May high).On the downside, immediate support is seen at 0.9710 (5 DMA), a break below could take the pair towards 0.9693 (21 DMA).

USD/JPY: The dollar declined against the Japanese yen on Friday as investors awaited U.S. nonfarm payrolls data to see the health of US economy. U.S. nonfarm payrolls data, due at 1230 GMT,   is expected to show that the U.S. economy is likely to have lost 22 million jobs in April and that the unemployment rate jumped to 16% as people stayed home to thwart the spread of the coronavirus. Immediate resistance can be seen at 106.38 (5 DMA), an upside break can trigger rise towards 106.72 (11 DMA ).On the downside, immediate support is seen at 106.22 (Daily low), a break below could take the pair towards 106.00  (Psychological level). 

Equities Recap

European shares rose on Friday as signs of improving U.S.-China relations gave a fresh dose of optimism for investors counting on the easing of lockdowns to spark a recovery in global growth.

At (GMT 12:17),UK's benchmark FTSE 100 was last trading up at 1.40 percent, Germany's Dax was down  by 1.04 percent, France’s CAC finished was up by 0.88percent.

Commodities Recap

Gold held firm on Friday as financial markets awaited U.S. nonfarm payrolls data to shed more light on the state of the country’s economy following a batch of weak economic indicators that boosted expectations of more Fed stimulus measures.

Spot gold was little changed at $1,718 per ounce, as of 0855 GMT, having hit its highest since April 27 at $1,721.76 in the previous session. U.S. gold futures rose 0.3% to $1,731.00.

Oil prices rose on Friday and were on course for a second consecutive week of gains as more countries moved ahead with plans to relax economic and social lockdowns put in place to halt the coronavirus pandemic and as more output was shut in.

Brent crude was up by 52 cents, or 1.8%, at $29.98 a barrel by 0920 GMT, having fallen nearly 1% on Thursday.

U.S. West Texas Intermediate (WTI) crude gained 78 cents, or 3.3%, to $24.33 after a decline of nearly 2% in the previous session.
 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.