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EUR/USD Daily Forecast – 09 May

Friday, May 06 2016

From Eurozone, on Friday, only minor importance Eurozone Retail PMI data was published. Retail sales fell in the euro area at the start of the second quarter, according to Markit's Eurozone Retail PMI, which tracks retail sector performance across Germany, France and Italy. Moreover, the rate of decline was the fastest since February 2015. At 47.9, down from March's 49.2, the headline Markit Eurozone Retail PMI signalled a fall in sales for the second month in a row in April. Behind this were downturns in sales in both France and Italy, while growth slowed to a three-month low in Germany. Sales were also lower in April compared with the same month one year ago, which contrasted with growth on a year-on-year basis in March.

In the US session NFP figures were released. Total nonfarm payroll employment increased by 160,000 in April. Analysts were predicting increase by 205,000. Over the prior 12 months, employment growth had averaged 232,000 per month. In April, employment gains occurred in professional and business services, health care, and financial activities, while mining continued to lose jobs. Unemployment rate remain stable at 5.0%. In April, average hourly earnings for all employees on private nonfarm payrolls increased by 8 cents to $25.53, following an increase of 6 cents in March.

 

There will be no major data releases both from Eurozone and USA on Monday, so we can expect a bit steadier beginning of the week.

More in this category: « GBP/USD Daily Forecast – 09 May AUD/USD Daily Forecast – 10 May »

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