{"id":45078,"date":"2023-05-05T12:27:00","date_gmt":"2023-05-05T11:27:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=45078"},"modified":"2023-05-05T17:43:37","modified_gmt":"2023-05-05T16:43:37","slug":"midday-brief-us-nonfarm-payrolls-awaited","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/midday-brief-us-nonfarm-payrolls-awaited\/","title":{"rendered":"Midday brief – US Nonfarm Payrolls awaited"},"content":{"rendered":"\t\t
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Consumer spending in the Eurozone slumped in March as shown by disappointing Retail Sales. Inflation in Switzerland cooled off in April, while the EURUSD<\/a> consolidated around the 1.1000-1.1050 area as market participants await jobs report data from the US. The upside may face a hurdle at 1.1100 as bulls aim for 1.1190 and 1.1200.<\/p>

The number of people employed in April is expected to decline to 180 000 from a previous print of 236 000. The data comes after the Fed raised rates by 25 bps on Wednesday amid bets of a slowdown by the central bank.<\/p>

Downbeat data from Switzerland weighed on the currency with the year-on-year CPI data falling to 2.6% from 2.9% in April. Unemployment in the country remained unchanged in April. The pair rose back above 0.6000 after establishing a low at 0.5920. A retest of 0.6080 and 0.6100 may be seen.<\/p>

CADZAR gained +0.73% ahead of Canadian employment data. The extended rebound in crude oil<\/a> prices helped the commodity-linked CAD<\/a> on the day.<\/p>

An anticipated decline in employment change and a rise in the unemployment rate may put the Canadian dollar under bearish pressure. Bulls took over from 13.50 and soared above 13.60. Further up, buyers may reclaim the 13.7180 high.<\/p>

European stocks edged higher heading into the weekend helped by an upbeat tech giant earnings report. The UK100<\/a> gained +0.33% sitting at a 7700 low with a possible challenge at 7800 on the upside. CAC40<\/a> was up +0.38% trading between 7350 and 7400. DAX<\/a> was up +0.75% as bulls eye 16 000.<\/p>

US stock futures were in positive territory boosted by upbeat earnings from Apple<\/a> ahead of the NFP. Nasdaq100<\/a> futures edged +0.63% higher trading above 13000. S&P 500<\/a> futures rose +0.62% nursing a 4-day losing streak as buyers may seek 4112 on the upside. The DJIA futures <\/a>were up +0.48% as buyers approach the 33 300 mark.<\/p>

Elsewhere, gold<\/a> trimmed gains as the focus tilted to NFP reports. XAUUSD was down -0.65% hanging on the $2050 high with a possible slide to 2015.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

Consumer spending in the Eurozone slumped in March as shown by disappointing Retail Sales. Inflation in Switzerland cooled off in April, while the EURUSD consolidated around the 1.1000-1.1050 area as market participants await jobs report data from the US. The upside may face a hurdle at 1.1100 as bulls aim for 1.1190 and 1.1200. The […]<\/p>\n","protected":false},"author":4,"featured_media":45080,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[761,18,28,306,601],"yoast_head":"\nMidday brief - US Nonfarm Payrolls awaited - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/midday-brief-us-nonfarm-payrolls-awaited\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Midday brief - US Nonfarm Payrolls awaited Midday brief - US Nonfarm Payrolls awaited\" \/>\n<meta property=\"og:description\" content=\"Consumer spending in the Eurozone slumped in March as shown by disappointing Retail Sales. Inflation in Switzerland cooled off in April, while the EURUSD consolidated around the 1.1000-1.1050 area as market participants await jobs report data from the US. 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