Market news
06.01.2012, 13:03

European session: investors awaited at US employment data

Data:
08:00   Switzerland Foreign Currency Reserves December 229.3 254.24  
08:00   United Kingdom Halifax house price index December -0.9% -0.9%    
08:00   United Kingdom Halifax house price index 3m Y/Y December -1.0% -1.3%    
08:15   Switzerland Consumer Price Index (MoM) December -0.2% -0.1% -0.2%    
08:15   Switzerland Consumer Price Index (YoY) December -0.5% -0.6% -0.7%    
10:00   Eurozone Retail Sales (MoM) November +0.4% -0.2% -0.8%    
10:00   Eurozone Retail Sales (YoY) November -0.4% -0.9% -2.5%    
10:00   Eurozone Unemployment Rate November 10.3% 10.3% 10.3%  
10:00   Eurozone Business climate indicator December -0.44 -0.46 -0.13  
10:00   Eurozone Economic sentiment index December 93.7 93.2 93.3  
10:00   Eurozone Industrial confidence December -7.3 -7.5 -7.7  
11:00   Germany Factory Orders s.a. (MoM) November +5.0% -1.6% -4.8%    
11:00   Germany Factory Orders n.s.a. (YoY) November +5.2% -1.2% -4.3%     
 
The euro is under pressure after reports showed confidence in the European economic outlook fell to a two-year low and German factory orders dropped by the most in almost three years.
The dollar was little changed before a U.S. report forecast to show employers added the most jobs in three months, adding to signs the world’s largest economy is gaining momentum.
U.S. employers hired 153K workers last month, after adding 120K in November. The jobless rate rose to 8.7% from 8.6%. U.S. companies added 325K workers in December, the most in records going back to 2001, ADP Employer Services said yesterday.

EUR/USD: the pair was limited $1,2760-$ 1,2810.

 
GBP/USD: the pair was limited $1,5470-$ 1,5500.

USD/JPY: the pair was limited Y77,00-Y77,25.

US data starts with the labor market data at 1330GMT where non-farm payrolls are forecast to rise 150,000 in December, continuing a trend of moderate payrolls gain. The unemployment rate is forecast to rebound slightly to 8.7% after falling 0.4 to 8.6% in November. Hourly earnings are expected to rise 0.2% after the 0.1% November decline, while the average workweek is forecast to hold steady at 34.3 hours. At 1430GMT, New York Fed President William Dudley speaks to the New Jersey Bankers Association in Iselin, N.J.


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