Forex Flash: Today's US NFP report may boost skepticism – TD Securities

FXstreet.com (Barcelona) - TD Securities analysts consider today’s Nonfarm Payrolls data as very important jobs report since economic data has been slipping and in a recovery all about jobs another downside surprise (88k last month) would show further skepticism that last month was simply a one-off fluke. “Consensus forecasts at 145k drifted lower after the ADP report of 119k and our standing estimate of 162k looks admittedly toppish. Even if we are right, it would still represent a deceleration in job growth. The jobs number will be weaker than recent trends, even if odds favor a bounce higher in April”, wrote analyst Alvin Pontoh, expecting the unemployment rate to remain unchanged at 7.6%, (7.57%) but the risk is tilted higher.

May 3, 2013

Forex: AUD/USD trading positively at 1.0250/56

The AUD/USD has been trading near its opening levels Friday, refusing to break higher or lower ahead of this afternoons US Nonfarm payroll data. Following a paring of overnight gains that took the cross to heights such as 1.0281 (daily high), the pair is now trading at 1.0250/56.

European markets little higher as US NFP demands caution

While the German DAX 30, the French CAC 40 and the Italian FTSE MIB are up by 0.10%-0.20% after the European Commission economic growth forecast and ahead of the US nonfarm payrolls report, the Spanish IBEX 35 rises by 0.50% as Spain is likely to be given an extension to reduce its deficit until 2016 after a revision lower to its growth forecast and unable to meet the target. The British FTSE 100 is up by 0.06% after the UK Services PMI, up from 52.4 to 52.9 in April, instead of staying unchanged as expected.