Intraday Market Thoughts
US & Canada Jobs Give Fake Gold Rally
by
Apr 5, 2013 17:14
The lowest NFP figure since June (88K vs exp 150K) did not stop USDJPY from gaining another 90 pips as the unemployment rate dropped to 7.6%--lowest since December 2008. But the shockingly bad news from Canada; -54.5K -- biggest fall since Feb 2009; and the unemployment rate to 7.2% from 7.0% have damaged CAD to the benefit of gold. The implications for the next BoC meeting are significant. We issued 2 new trades on USDCAD, GBPJPY and gold (6 in total). See all these trades in the latest Premium Insights.
Act | Exp | Prev | GMT |
---|---|---|---|
Nonfarm Payrolls | |||
88K | 200K | 268K | Apr 05 12:30 |
Private Nonfarm Payrolls | |||
95K | 209K | 254K | Apr 05 12:30 |
Unemployment Rate | |||
7.6% | 7.7% | 7.7% | Apr 05 12:30 |
Employment Change | |||
-54.5K | 9.0K | 50.7K | Apr 05 12:30 |
Unemployment Rate | |||
7.2% | 7.0% | 7.0% | Apr 05 12:30 |
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