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8 Mar 2013
Session Recap: Strong nonfarm payrolls boost the greenback
The main feature of the session was the US nonfarm payrolls report which came in surprisingly strong, boosting the greenback versus main competitors except for the loonie. The government reported the US economy added 236,000 new jobs, against 160,000 expected, while the unemployment rate fell to 7.7%, 5-year low, from 7.9% the previous month.
Despite the risk appetite boost, which usually is negatively correlated to the USD, the greenback surged as the positive figures lower prospects of further easing by the Fed. Unemployment rate is inching closer to the Fed's 6.5% target for when it will consider withdrawing easing measures.
Main Headlines in Europe (in chronological order):
Switzerland: Inflation up 0.3% in February, as expected
Forex Flash: What does EUR/USD has to offer? – UBS and Commerzbank
UK: Consumer Inflation Expectations up 3.6% in March
Greece: Inflation rises 0.1% in January
Fundamental Morning Wrap: Draghi plays chicken for structural reform as NFP climb expected
Germany: Annual Industrial Production decline accelerates in January
IMF's Lagarde upbeat on Ireland's economic prospects
Euro looks to Payrolls for extra boost
European markets resume yesterday's sentiment, US futures up ahead of NFP
ECB and BoE easing risks remain finely balanced - TD Securities
US: NFP rose to 236K in February
Canada: Unemployment remained at 7.0% in February
USD/JPY soars above 96.50 on strong NFP
Commodities Brief – Precious metals decline sharply following upbeat US payroll data, crude held in check
Forex: EUR/USD hits fresh 3-month low
American equity markets edge higher on upbeat US data
Despite the risk appetite boost, which usually is negatively correlated to the USD, the greenback surged as the positive figures lower prospects of further easing by the Fed. Unemployment rate is inching closer to the Fed's 6.5% target for when it will consider withdrawing easing measures.
Main Headlines in Europe (in chronological order):
Switzerland: Inflation up 0.3% in February, as expected
Forex Flash: What does EUR/USD has to offer? – UBS and Commerzbank
UK: Consumer Inflation Expectations up 3.6% in March
Greece: Inflation rises 0.1% in January
Fundamental Morning Wrap: Draghi plays chicken for structural reform as NFP climb expected
Germany: Annual Industrial Production decline accelerates in January
IMF's Lagarde upbeat on Ireland's economic prospects
Euro looks to Payrolls for extra boost
European markets resume yesterday's sentiment, US futures up ahead of NFP
ECB and BoE easing risks remain finely balanced - TD Securities
US: NFP rose to 236K in February
Canada: Unemployment remained at 7.0% in February
USD/JPY soars above 96.50 on strong NFP
Commodities Brief – Precious metals decline sharply following upbeat US payroll data, crude held in check
Forex: EUR/USD hits fresh 3-month low
American equity markets edge higher on upbeat US data