Forex News
Labour Force – April 2013
Today’s 50.1k surge in jobs in April was much larger than market expectations which centred on an increase of 11k {CBA (f) +15k}.
Canadian Housing Starts Dip in April
– Housing starts dipped by 3.5% to an annualized 174,900 in April 2013, which was in line with market expectations for a 175,000 reading.
Good news from German industry
There clearly was more good news than bad in today’s and yesterday’s numbers for orders and production in German industry.
No Spring swoon this year
The April labour market report is very much reassuring, as job creations reaccelerated while past data were revised upwards.
US non-farm payrolls rise
Non-farm payrolls increased by 165,000 in April, following a revision for March’s payroll addition to 138,000, larger than what was first estimated.
Better news in services
In April, activity accelerated again in services. The CIPS services activity index (up to 52.9 from 52.4) reached its highest level since August 2012.
GBP/USD Analysis
The cross closed in NY Thursday at $1.5528 after rate had been dragged to a session low of $1.5496 on euro-dollar post ECB/Draghi induced slippage,
U.S. Trade Deficit Narrowed to $38.8 Billion in March
– The US trade deficit was smaller than expected in March 2013 at $38.8 billion from a revised $43.6 billion (previously was $42.96 billion) in February.
ECB: Cuts refi rate by 25bps
As expected, the European Central Bank went forward with its first rate cut since July 2012,
Morning FX Market Commentary
On Wednesday, in choppy trade, the dollar was under pressure ahead of the Fed policy decision. The US eco data were also USD negative.
U.S. FOMC Leave Funds Target and Purchase Program Unchanged
– The Federal Market Open Market Committee (FOMC) maintained the fed funds target at 0.0% to 0.25%,